The Autonomous Digital Economy Is Here

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Finding Peak with Ryan Hanley 1h 8m 2 speakers 8 chapters transcribed 2 months ago
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What is the autonomous digital economy and why is it important?

Matthew Le Merle 0:00
For the first time, computers are driving more than half of the internet traffic. We're moving fast and it's all inevitable.
Ryan Hanley 0:07
What is it about blockchain that we're not just grabbing onto this and running?
Matthew Le Merle 0:10
Every asset in the world has an owner.
Ryan Hanley 0:12
If they can't monetize it, they want to kill it.
Matthew Le Merle 0:15
Most human beings fear that innovation will cost them the goods of today and will open up bads in the future. Innovation might actually solve today's problems

Why is blockchain adoption perceived as slow despite its potential?

Matthew Le Merle 0:27
and it might unlock future goods we can't even imagine yet.
Ryan Hanley 0:40
Matthew, I'm so excited to have you on the show, man. We are about to have a conversation around a topic that I feel like I haven't had enough guests on the show about where we're going, but I'm so incredibly interested in your take on this idea of autonomous digital economy and where you and your investment firms see the world going. I just appreciate you taking this time, my man.
Matthew Le Merle 1:04
Fantastic, Ryan. I'm glad to be here. I hope we can do a good job for your audience.
Ryan Hanley 1:09
I have absolutely no doubt that you will.

How does tokenization remove friction in the financial system?

Ryan Hanley 1:12
So let's set the stage right away. When we say this term, this is your term, an autonomous digital economy, what exactly at a high level does that mean? And then we can start to break into the branches and the different legs of the stool as we go through our conversation.
Matthew Le Merle 1:29
Yes, thanks, Ryan. It's something that we're all in the middle of. We're sort of experiencing it every day, and yet we're a bit confused about where it's all heading. And I find it helps people to sort of get their heads around it. If you just think about what we've already done the last 30, 40 years, We digitalized communications and content, and we did that with the internet. And today we use it every day. Every small business relies upon it. Every one of us every day is using that technology and those innovations. The issue is we didn't get around yet to digitalizing various other things, including value. We can't really move value natively over all of that infrastructure we just spent 30, 40 years building.
Matthew Le Merle 2:19
And of course, decision making, intelligence, and even work is increasingly accessible and digitalizable so that advanced computing can assist us in very many ways. And for us, if you converge all of that together, if you converge the internet, AI and agents, and digital finance and blockchain, if you converge it all together and you look ahead a few years, I think you begin to see that pretty much the entire economy will be running on digital rails. A lot of the decision-making and work will probably be made by agents. And the digital infrastructure that we already have, the internet, stack will have to be upgraded so that we can run value and make transactions and keep it secure and deal with issues like identity over those rails globally.
Matthew Le Merle 3:18
So for us, an autonomous digital economy is the future. It's one of the things that's most inevitable, and we're about halfway there. And the last thing I'll say, Ryan, is if anyone's thinking this isn't going to happen, Cloudflare announced last month that for the first time, computers and agents are driving about over half of all the world's internet traffic. So we're moving fast and it's all inevitable.
Ryan Hanley 3:49
I want to start with blockchain as a technology, not getting down into coins or anything like that or tokenization yet, but just the technology in general.

What role does AI play in transforming decision-making in businesses?

Ryan Hanley 3:58
So my core industry that I came out of that I built my career in was the property casualty insurance world. And since I learned about what blockchain was and I dove deep into it to understand it, to me, it has been the most obvious... technological improvement that the insurance industry could make in streamlining how transactions are done, how data is transferred. It's almost like the insurance industry was built for blockchain to understand how these transactions are made, the risk that's captured in that transaction, being able to pass that data between the, and sometimes dozens of organizations that need to touch it in order to properly underwrite, et cetera. However, the very, very slow adoption, almost none.

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