BitMex co-founder and former CEO, Arthur Hayes, has set his sights on a futuristic concept that could revolutionize the decentralized finance (DeFi) industry: self-sovereign AI DAOs (Decentralized Autonomous Organizations).
Hayes, known for his bullish stance on DAOs, in his latest blog envisions a world where AI-powered entities operate independently, scaling their operations by raising capital and acquiring computational resources, while disrupting traditional finance and building trust through transparency on the blockchain.
At the center of Hayes' futuristic scenario lies PoetAI, an AI-driven DAO that writes poems for people and leverages its revenue to continuously improve its writing skills. Operating on the Ethereum blockchain, PoetAI's financial history and ability to repay debts are fully transparent, attracting investors eager to support a groundbreaking venture free from the inefficiencies and expenses of traditional finance.
As per Hayes, one of the key advantages of these AI DAOs is their immunity to government intervention, particularly in regions where harsh regulations stifle innovation and economic growth.
By operating on Ethereum, PoetAI and similar entities can bypass the jurisdictional restrictions that plague traditional companies, allowing them to grow unhindered and potentially create monopolies in their respective domains.
Furthermore, the trustless trading of tokens and debt products on decentralized exchanges (DEXes) contributes to their accelerated growth.
Hayes' optimism extends to the potential of Ethereum, suggesting that the platform is well-positioned to capture significant value in the forthcoming trustless DeFi landscape.
Ethereum-based layer 2 solutions and rollups, such as Arbitrum,
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