In a rapidly evolving world driven by AI and robotics, the concept of money is undergoing a transformation. Balaji Srinivasan, an American entrepreneur and author of “The Network State: How to Start a New Country,” believes that cryptocurrency will be the cornerstone of the new era. Here is why he thinks crypto is the future of money.

Cryptocurrency: The Scarcity in an Age of AI Abundance 

Srinivasan argues that in an era where AI makes many things abundant, cryptocurrency stands out for its provable scarcity. This scarcity is essential for verifying human authenticity in a world where AI can easily fake human interactions. Crypto assets serve as a proof of humanity in an AI-dominated landscape.

Money as an Economic Bridge 

Srinivasan highlights that money acts as a bridge between economically distinct actors, While you don’t need to pay your hand to move, you do need to pay for services or products from others, including robots owned by other entities. Cryptocurrency facilitates these transactions, enabling seamless interactions between different economic actors.

Persistent Scarcity and the Value of Money 

Despite the digital abundance AI brings, scarcity remains at higher levels. Essential components like the supply chains for building robots and the nuclear power plants powering AI data centers remain limited. This scarcity, primarily located in regions like China and Asia, underscores the ongoing value of money.

Crypto and Control in the AI Era

The most crucial scarcity in the AI age, according to Srinivasan, is the control of robots via private keys. These keys, secured through web3 backends like Bitcoin and Ethereum, offer far greater security than traditional web2 systems.

In essence, AI creates digital abundance, but it does not eliminate all forms of scarcity. Cryptocurrency, representing digital scarcity, complements AI’s abundance, making it the future of money. As we move further into the AI age, crypto is set to become the dominant form of currency.

Stay tuned to Coinpedia for more such interesting stories!    

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed