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- Real Vision founder, Raoul Pal, said he believes an AI revolution will “break the entire economic model” and split the human species in two — those who opt to merge with machines and those who don’t.
- Pal said investing in blockchain tech may be the best way for people to financially survive this revolution.
- The Real Vision founder thinks blockchain will become increasingly important, adding that its scarcity would drive prices up, predicting BTC could hit US$2.6 million by the early 2030s.
According to Raoul Pal, entrepreneur and founder of the financial education platform Real Vision, it may be time to start making peace with the idea of installing a few brain chips and converting all your superannuation to crypto.
Speaking on the latest episode of the Diary of a CEO podcast, Pal said he believes artificial intelligence (AI) is the greatest innovation humanity has ever achieved. Pal predicts AI will essentially make knowledge as freely available as water currently is, and in the process transform the global economy — creating a societal schism between those who embrace the technology and those who shun it.
It’s going to break the entire economic model, for good and for bad. It’s going to change our understanding of how society functions and what humans do. It’s going to change our understanding of what humans are and will be.
Raoul Pal, Founder of Real Vision
The Real Vision founder posited that crypto may be the average person’s best hope for surviving the coming technological revolution. He argued that by investing in crypto now, people are effectively buying shares in future technologies and use cases built atop layer 1 networks like Bitcoin and Ethereum.
Related: Goldman Sachs, MIT Analysts Split on AI’s Future: Bubble or Breakthrough?
Pal: We’re Going To See Huge Changes Within 6 Years
Speaking with host Steven Bartlett — known for his role on the UK’s Dragons’ Den TV program — Pal declared that AI is “the single greatest innovation of humanity ever” and predicted that within just six years it will have fundamentally transformed the global economy.
With AI eliminating the need for most human workers, according to Pal, young people should be moving into fields that will be least impacted, such as the AI industry itself or “human-centric” roles that will be harder to automate, giving the example of eco-tourism.
Pal also suggests that society will fracture along AI lines, with the species essentially splitting in two — those who opt to ‘upgrade’ themselves through the use of AI tools and new technology like brain implants, and those who reject AI and remain fully human:
Society will take the two paths, you either merge with the machines or you reject the machines. We are going towards two different species…we will have people who utterly reject this and we will have other people who are embedding neural links into their brains and using every part of this to enhance themselves.
Raoul Pal, Founder of Real Vision
How Does Crypto Fit Into This AI Future?
So, we’re destined to become either more anxious versions of the T-800, or — if we opt to remain certified organic humans — at the mercy of our cybernetic overlords. But what exactly does this mean for crypto?
Pal said blockchain is set to become an increasingly important technology. He mused that it isn’t really about money or finance, but rather, truth — that is, having a verifiable source of truth is going to be crucial in the world of tomorrow.
In a world where we don’t even know who is who online who owes each other what, any of these things — we now have a source of truth that everybody can agree on…And so that as a technology solves many things, problems that we don’t even known we’ve got because they’re so part of how we exist. And so the technology is not about money, the technology is about truth.
Raoul Pal, Founder of Real Vision
The Real Vision founder said that what is particularly interesting about blockchain — or distributed ledger technology (DLT) — is that unlike similar tech such as the internet, everyone around the world can directly invest in it and get a slice of the wealth:
We can buy the asset, which is actually us investing in the future use cases of this thing…So now you get this global infrastructure layer in which people can invest.
Raoul Pal, Founder of Real Vision
Pal added that unlike with other growth assets such as privately owned AI companies or high-end real estate, with blockchain “we can all put 10% of our paycheck in it.” When asked by podcast host, Steven Bartlett, if that’s what he recommends, Pal said: “Yeh. And more.”
Related: Raoul Pal Delivers Urgent Update on Market Flash Crash
He predicts Bitcoin could reach as high as $US2.6 million (AU$3.9m) and Ethereum could get to US$125,000 (AU$187K) by 2034, with the total crypto market cap soaring to US$100 trillion.
Pal also believes that the only real options for investing at the moment are tech stocks or crypto, adding that “In a digital world, everything goes to zero in value… what we’ve created [with blockchain] is digital scarcity.”