Mike Novogratz is optimistic that blockchain-based applications can play a crucial role in addressing the challenges posed by artificial intelligence
Mike Novogratz, CEO of Galaxy Digital. Image: John Lamparski / Getty Images via AFP
Mike Novogratz, the CEO of Galaxy Digital, a company that invests in digital assets, expressed surprise at the level of regulatory scrutiny that crypto assets are receiving.
Novogratz thinks that the focus should be on artificial intelligence (AI), a technology that he believes will lead to a crisis of "deep fake" identities.
During the fourth-quarter conference call on March 28, Novogratz expressed his opinion that the US government is misguided in its focus on regulating crypto assets instead of prioritising regulation for artificial intelligence.
Novogratz believes that the government's priorities are "completely upside-down," as AI poses a significant threat of creating "deep fake" identities, yet there is little discussion about regulating it.
Novogratz's concerns about the lack of regulatory attention given to artificial intelligence are rooted in his fear of an impending "deep fake" identity crisis. He believes that the best use case for crypto is in providing identity verification for AI. However, in a world where anyone can create a fake identity, he wonders how identity can be verified.