CEO's Note: Robot money. Oh yeah, once the machines take over they will need a currency of their own and it might be…bitcoin? Trading with other robots and exchanging ‘things’ for ‘coins’ is the next step in “AI”. They’re doomed. Just wait till they discover alcohol, drugs and sex they can buy for bitcoin. Doomed.
Very interesting thought process going on in the AI (artificial intelligence) world that someday robots with AI may own property and trade with one another. Think of it, corporations do and they are legal entities. Would they require their own currency, like bitcoin? Why not. Thought provoking read.
What if robots are self-sovereign entities and they can own property, own money, have legal rights and so forth?
“There’s actually a lot of precedence for that,” says Jeff Garzik, bitcoin developer and CEO of Bloq, enterprise blockchain developer with emphasis on networks like bitcoin. “It’s been assumed as inevitable that robots will exist and they will own property.”
Mr. Garzik believes robots could one day be considered legal persons, and even trade bitcoins. The bitcoin developer cites how corporations enjoy legal personhood.
“It’s a legal fiction that they are an entity separate from an individual person,” he told Bitcoin.com. “Entity-hood means corporations can own property, and that they are liable. They are sued instead of individuals running the company.”
Like a corporation, robots will soon be able to hold value. “We see with bitcoin and cryptocurrencies situations where the technology allows one person to control one-fifth of an asset,” the Bloq founder explained, referring to a multi-signature transaction protocol where three out of five private key holders must sign off for a transaction to be executed.
“What if the asset-holders were robot shareholders in a corporation or property? [That’s] pure code, pure robotic script. And Bitcoin helps with that. Cryptocurrency startups are building autonomous agents right now.”