During a discussion of Galaxy Digital’s Q4 results from last year, CEO Michael Novogratz expressed surprise at regulators’ focus on cryptocurrency while neglecting the field of artificial intelligence (AI).
He criticized the “totally inadequate” regulation of cryptocurrencies by US authorities, pointing out the booming AI field as an area that is being ignored.
Novogratz expressed concern about the potential for “deepfakes” – the creation of fake identities online – and suggested that blockchain and cryptocurrencies could be a way to combat this issue.
According to Novogratz, the economic and banking crisis in the United States is benefiting the cryptocurrency industry by attracting new investors to bitcoin.
Despite his concerns about regulation, Novogratz remains optimistic about the role that cryptocurrencies and blockchain technology will play in the future of online identity verification.