Image source: Bitcoin.com news
In a thought-provoking essay published on Thursday, Arthur Hayes, the co-founder of BitMEX, made a bold claim that artificial intelligence (AI) will adopt Bitcoin as its preferred currency. Hayes outlined compelling reasons why Bitcoin’s attributes make it the most suitable form of money for AI, both for economic calculations and seamless transactions.
Hayes argues that the constant evolution of AI will necessitate a payment system that is available around the clock, fully digital, and completely automated. AI, similar to humans, will require a means to pay for its essential requirements: data and computational power. These are the “food” that will keep AI alive and functioning optimally.
According to Hayes, the traditional, fragmented banking sector is ill-equipped to fulfill the demanding requirements of AI. The limitations of analog banking, including limited operating hours, transaction delays, and cumbersome processes, hinder its suitability for AI’s dynamic needs. In contrast, a blockchain-based system offers a solution that can provide the necessary 24/7 service that AI will require.
Hayes further highlights the advantages of a blockchain-based payment system for AI. He emphasizes that with such a system, AI can receive payments electronically in minute increments if necessary. This flexibility and precision are crucial for AI as it interacts with various services and resources in real-time, making small, frequent transactions more efficient and seamless.
Bitcoin, the pioneering cryptocurrency built on blockchain technology, aligns with the requirements outlined by Hayes. With its decentralized nature, Bitcoin operates autonomously without the need for intermediaries, providing an efficient and secure payment rail for AI systems. Its global accessibility and open-source infrastructure also make it a suitable currency for AI’s diverse operations across borders and industries.
Hayes’ prediction that AI will choose Bitcoin as its currency raises intriguing possibilities for the future. If his vision comes to fruition, AI’s adoption of Bitcoin could lead to significant implications for the digital economy, further cementing Bitcoin’s position as a dominant and versatile currency in the evolving landscape of technology and finance.
As the development of AI continues to accelerate, the question of its financial interactions becomes increasingly relevant. Hayes’ insights shed light on the potential for Bitcoin to serve as the common currency of AI, facilitating its growth and expansion in an increasingly interconnected world.
