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Investing.com – In a tweet posted on Tuesday, Raoul Pal, CEO of Real Vision and former Goldman Sachs (NYSE:) executive, delivered his predictions for the long-term future of the cryptocurrency industry, and the implications of the advent of advanced AIs.
He indeed explained that the United States is likely to adopt sweeping regulations that would leave few people able to operate in the industry, thus creating an oligopoly, while the Chinese Communist Party (CCP) will determine who can operate in the cryptocurrency industry in Asia.
“My current best estimate of the overall future of the cryptocurrency industry…
- A US regime of highly regulated and TradFi-integrated major players, few in number and oligopolistic in nature over time.
- An Asian regime consisting of one or two key players, CCP approved and Southern in nature….
- A global regulatory arbitrage regime that connects the two worlds but is bigger than both.
Basically, this is how the current financial system works due to geopolitics, technology, and other key economic systems. »
Pal also touched on the on-going AI revolution, noting that “we are all having a hard time keeping up with the frenetic pace of AI and its applications” and that “we ALL feel never be able to follow”.
He thus judged that the current situation is “a true example of Reed’s law”, or “Metcalfe’s law to the power of 2, a double exponential”.
In this context, he warned that “the situation will become EXTRAORDINARY when we add the Internet of Things, robots, genome editing, blockchain, space, 5G and 6G”, adding that “all it’s part of the same Reed’s law…”