International laws need to be updated for a ‘machine-governed economic system,’ says CEO of stablecoin giant Circle
As companies adopt new technologies like crypto and AI, governments worldwide will need to revamp their existing laws to account for companies that will become more reliant on machines and less reliant on humans, Jeremy Allaire, CEO of the stablecoin giant Circle, said Monday at the Fortune Global Forum.
“Most of our legal systems are not built around the idea of a corporation itself being entirely run by machines on the internet,” he added. “My own belief is that over the next five years—and certainly over the next five to 10 years—almost every legal system in the world will need to be a machine-governed economic system.”
Allaire’s comments come as nations race to catch up with the breakneck pace of AI development…
