Will artificial intelligence need currency to operate in the same way humanity does? BitMEX co-founder Arthur Hayes says yes—and that currency will be Bitcoin (BTC).

In an essay published on Thursday, Hayes outlined why Bitcoin will be “chosen by AIs” as the most logical money with which to calculate their economic decisions, and the best payment rail with which to carry them out.

For starters, AI will necessarily require a payment system that is “available at all times, digital, and completely automated.” That’s because it must constantly be able to pay for two critical forms of “food”—data and compute power—in order to “stay alive.”

According to Hayes, the “balkanised,” analogue banking sector cannot provide this sort of 24/7 service, but a blockchain-based system can.

“By using a blockchain-based payment system, [AI] … can also receive payments electronically in extremely small increments if needed,” he added.

An AI payment rail must also be censorship-resistant, and enshrined with “clear and transparent” rules from the outset, Hayes explained. This is to avoid the risk of deplatforming, which is “high and undesirable” for a robot that does not intrinsically understand human laws, or the “opaque and intentionally unintelligible” rules of the cen

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Author: Andrew Throuvalas

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