Grayscale Analyzes Increased Demand for Blockchain Due to AI Adoption

The Relationship Between AI Adoption and Blockchain Demand

Zach Pandl, head of research at Grayscale, published a report on the 11th stating that AI and public blockchains have a complementary relationship. Pandl identified three areas where the adoption of AI is expected to increase demand for blockchain technology: financial transactions such as payments, record-keeping for computation, identity verification, and reputation, as well as decentralized AI infrastructure.

Pandl positioned AI and public blockchains as being complementary. He suggested that public blockchains can provide new solutions to the unique demands of AI that traditional systems cannot meet.

New Demand for Agent Payments

For AI agents to act on behalf of humans, they require programmable wallets that can hold and execute funds without intermediaries. Pandl pointed out that such activities would generate demand for micro-payments, instant cross-border payments, and automated trading and risk management.

He identified Ethereum (ETH) and Solana (SOL) as public blockchains capable of fulfilling these functions.

Verification of Records and Identity Confirmation

As companies delegate more decision-making to AI, there arises a need to verify which models, data, and rules were used to make decisions. Users also need to be able to distinguish between human and AI agents online. Pandl provided an example where social media companies need to verify whether an account is operated by a real individual without disclosing personal identity information.

As the reliance on AI agents for critical tasks such as investment and purchasing increases, the need for trustworthy reputation records also grows. Pandl expressed that public blockchains and applications like Worldcoin's identity verification service could play a role in recording such information on a transparent and neutral basis, rather than under the control of a single company or government.

Decentralized AI Infrastructure as an Option

Pandl pointed out that capital, computational resources, and control over AI development are concentrated in a few leading AI research institutions (frontier labs) and major cloud providers (hyperscalers). This concentration raises concerns about governance, bias, and censorship.

He contrasted this with decentralized networks like Bittensor, which he described as an alternative option. "Everyone can access, contribute, and own a part of it," he stated, referring to the approach of creating a global and open AI ecosystem.

In conclusion, Pandl summarized that the adoption of AI will generate demand for public blockchains as financial infrastructure enabling fund management without intermediaries, as a record layer capable of verifying computation, identity, and reputation, and as a foundation for an open AI ecosystem owned by users.

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