BitMex co-founder Arthur Hayes has explored AI and DAO synergy in his latest blog post. He foresees Ethereum (ETH) price surge.
A famous American entrepreneur and co-founder of BitMex, Arthur Hayes, has recently published a blog post focusing on the collaborative use of AI and DAO technologies. He asserted that this can lead to the price upsurge of Ethereum. In that post, the entrepreneur noted that both of these sectors need to cooperate to contribute to the further progress of the industry. He added that artificial intelligence (AI) technology can utilize the structure of the decentralized autonomous organizations (DAOs) for better organization.
Arthur Hayes Says AI and DAOs Can Revolutionize the Industry
As per the entrepreneur, with the DAO structure, humans and the AI economy can get a significant boost because no state controls DAOs. The entrepreneur also disclosed the reasons behind this. Arthur Hayes stated that the state does not have the power to control AIs as they cannot get penalized or killed. In this way, there is no logic for an AI-based economic unit (such as an AI-driven DAO) to abide by the orders imposed by the state.
According to Hayes, as the state is unable to compel DAOs, these organizations will have the freedom to fundraise as well as trade, utility, equity, debt, and so on. They can also trade tokens on decentralized exchanges that are not backed by conventional centralized exchanges (or CEXs). The entrepreneur added that the decentralized exchanges will gradually turn into natural monopolies.
While supporting his claim, he said that they will be initially truly worldwide trading venues permitting people to communicate and transact. In addition to this, the entrepreneur pointed out that the transfers of the prominent crypto token ETH will witness a significant increase if the aforementioned suggestions are taken into consideration.
Arthur Hayes added that the proliferation of decentralized autonomous organizations will increase Ethereum’s price. As per him, there will be a few decentralized exchanges with natural monopolies concerning the trading of certain token types.
Ethereum’s Price May Spike with the Proliferation of the AI DAOs, Entrepreneur Claims
He is of the view that the detection of such entities and buying out the governance tokens possessed by them will generate beaucoup profits. Hayes asserted that AI DAOs will likely prefer Ethereum as it is the most broadly utilized decentralized virtual machine. He also expressed confidence that the biggest driver of the on-chain operations will be an outburst of the trading volumes of decentralized exchanges hosted by Ethereum.