Michael Novogratz, the founder and Chief Executive Officer of Galaxy Digital recently spoke about decentralization, privacy and AI technology in a podcast interview with Laura Shin.
The CEO, while discussing the concept of decentralization and its importance said:
“I don’t think we’re going to decentralize the whole world. I really don’t. I think there are parts of the world where decentralization makes sense, for peer to peer you know relationship makes a lot of sense.”
Novogratz further pointed out that the reason for this opinion is his major concern about privacy. He spoke about Artificial Intelligence [AI] and how the absence of it 10 years ago was beneficial in maintaining the required privacy. However, he also appreciated and acknowledged the progress AI has made since last few years and “what it’s going to do in the next 10 years is staggering.”
The CEO related his concerns about privacy to the availability of his DNA to trace him and his life belonging with the various companies. He said:
“And now my DNA is on somebody’s database with my name on it, and everything else. And if you look at how much hacking is going on, on the internet, that doesn’t make you feel so good. And they’ve already sold that DNA to some research companies”.
Novogratz explained the progress in AI technology, by giving an example of how an embryo before even it is developed can give information about eye color, and height. Most importantly, AI can facilitate heightened IQ within the fetal stage which was impossible once but possible now, he said. Similarly, he added, it is possible for any company to gather all the data about an individual and to use it for the sake of business or anything else. He went on to say:
“And so having some firewall between our personal data and these big silos that can use it for good or bad reason, to me is wildly essentially what gets me the most excited about putting so much my energy into the space.”
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