American millionaire entrepreneur Balaji Srinivasan recently shared his unique perspective on the future of currency in the era of artificial intelligence (AI) and robotics. He predicts that cryptocurrency will emerge as a new form of money that complements the digital abundance resulting from advancements in AI.
In a world where AI technology can imitate human behavior, Srinivasan highlights the distinguishing feature of cryptocurrencies as their provable scarcity. This scarcity, he argues, can serve as a way to verify human identity in a world where AI is prevalent.
While automation and abundance brought by AI and robotics may increase, Srinivasan believes that scarcity will still persist. Resources needed for production, such as supply chains for robots and energy sources for AI data centers, will remain limited. This, in turn, will make money valuable in regions like China and Asia where these resources are primarily located.
Srinivasan emphasizes the importance of private keys in controlling robots as a key form of scarcity in the age of AI. As web3 systems like Bitcoin and Ethereum offer heightened security compared to web2 systems, these keys will essentially function as cryptocurrencies, according to Srinivasan.
Looking forward, Srinivasan envisions a future where AI leads to digital abundance, with cryptocurrencies representing digital rarity. In his view, cryptocurrencies will play a crucial role in completing this abundance, leading him to assert that “After AI, money is crypto.”
*Please note that this is not investment advice.
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