Lex Sokolin is betting big on the Fourth Industrial Revolution, or rather, how all the heady new technologies of today will shape tomorrow.

“We need new words,” he told Decrypt in an interview. “I’ve spent the last four years at ConsenSys in a couple of different roles, first in fintech and then on marketing and then on the crypto economics team.”

After his role as co-head of ConsenSys’ global fintech arm, Sokolin is now turning his attention to the integration of AI, crypto, and the so-called machine economy as a general partner at Generative Ventures.

The machine economy refers to the mesh network of various smart devices like phones and watches that make up the broader Internet of Things (IoT) sector. In the future, these devices, thanks to AI and crypto, will become operating autonomously, making payments with one another without any human intervention–at least that’s the thesis.

“I came into the space thinking a lot about fintech and financial services and that crypto and blockchain are the new architecture for financial services,” he said. “We’ve heard this now a million times, and I think it’s in many ways true.”

Still, the technologies underpinning Web3, Sokolin argues, can’t be the only enabler of economic activity.

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Author: Andrew Asmakov

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