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Dragonfly: Crypto Was Not Made for Humans

Crypto Was Not Made for Humans: A Summary Dragonfly Capital partner Haseeb Qureshi argues that cryptocurrency was not designed for human use, but rather for AI agents. Despite being a crypto-native firm, Dragonfly still relies on legal contracts over smart contracts for investments, highlighting that traditional systems are built for human fallibility—featuring safeguards, reversibility, and intuitive interfaces that crypto lacks. Crypto, with its rigid, deterministic, and code-based nature, is error-prone for humans, leading to fears around transactions, phishing, and irreversible mistakes. However, these very traits make it ideal for AI. AI agents can perfectly verify transactions, audit contracts, and operate within crypto’s 24/7, borderless, and self-sovereign environment. They prefer code over ambiguous legal systems, which are slow and unpredictable. Qureshi envisions a future of "self-driving" wallets where AI agents handle all financial interactions, navigating DeFi protocols on behalf of users. These agents will also transact with each other autonomously, forming an economy of non-human participants—a reality already emerging with projects like Moltbook and Conway Research. In conclusion, crypto’s perceived flaws are not shortcomings but indications that humans are not the intended users. Within a decade, direct human interaction with crypto may seem archaic, as AI agents become the primary interface, unlocking the technology’s full potential.

marsbit02/19 05:14

Dragonfly: Crypto Was Not Made for Humans

marsbit02/19 05:14

After Raising $650 Million, Dragonfly Believes Crypto Was Not Made for Humans

Dragonfly Capital partner Haseeb Qureshi argues that cryptocurrency was not designed for humans but is instead the ideal financial system for AI agents. Despite being a crypto-native firm, Dragonfly still relies on legal contracts over smart contracts for investments, highlighting that traditional systems are built for human fallibility—featuring safeguards, reversibility, and intuitive interfaces. Crypto, by contrast, is rigid, error-prone, and unforgiving, with complex addresses, gas fees, and irreversible transactions posing significant risks to human users. Qureshi posits that AI agents are the natural users of crypto: they operate with precision, trust code over ambiguous legal systems, and can verify transactions instantly. Unlike humans, AI can navigate crypto ecosystem autonomously, negotiating and executing binding agreements via smart contracts within minutes. Crypto’s global, permissionless, and deterministic nature makes it perfect for AI-to-AI economic activity, which is already emerging with projects like Moltbook and Conway Research’s autonomous agents. He predicts the future interface for crypto will be “self-driving” wallets managed by AI, which will handle financial tasks on behalf of users. This shift will transform how protocols compete and market themselves. In a decade, humans may look back in astonishment that they ever interacted directly with crypto—its true potential unlocked only when its complementary technology, AI, arrived.

Odaily星球日报02/19 05:10

After Raising $650 Million, Dragonfly Believes Crypto Was Not Made for Humans

Odaily星球日报02/19 05:10

Bloomberg: How a16z Became the Key Force Behind U.S. AI Policy?

This article from Bloomberg details how venture capital firm Andreessen Horowitz (a16z) has become a dominant, behind-the-scenes force shaping U.S. artificial intelligence (AI) policy, particularly under the Trump administration. Through massive lobbying, close relationships with key figures like Donald Trump, and a network of former staff in government roles, a16z aggressively promotes a deregulatory agenda. The firm argues that strict rules would stifle innovation and harm U.S. competitiveness, positioning itself as a defender of small startups while its own massive portfolio benefits from a lax regulatory environment. a16z's chief lobbyist, Collin McCune, is often the first external call for White House officials and Republican aides considering AI legislation. The firm played a key role in supporting a Trump executive order that blocked states from enacting their own AI safety laws. Co-founder Marc Andreessen, a major Republican donor, wields significant influence through meetings and donations. Despite its "small tech" rhetoric, critics note a16z's substantial investments in giant tech companies and its opposition to any major new regulations. Its influence has made legislative compromise difficult, even causing friction with larger tech companies willing to negotiate. The firm is now focused on crafting federal AI standards designed to preempt state laws and endure beyond the current administration.

marsbit02/19 04:08

Bloomberg: How a16z Became the Key Force Behind U.S. AI Policy?

marsbit02/19 04:08

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