This article comes from: Haseeb Qureshi

Compiled by｜Odaily Planet Daily Azuma

Editor's note: Last night, the leading venture capital firm Dragonfly Capital announced the completion of its fourth fundraise, totaling $650 million.

That evening, Haseeb Qureshi, a star partner at Dragonfly Capital, published a lengthy article titled “Crypto was not made for humans” on X, proposing the new viewpoint that “cryptocurrency was not born for humans, but should serve AI tokens,” and stating that “in 10 years, we may be astonished that humans ever interacted directly with cryptocurrency.”

Below is the full text by Haseeb Qureshi, translated by Odaily Planet Daily.

We are a cryptocurrency fund. If anyone should firmly believe in cryptocurrency, it must be us.

However, when we sign an investment agreement with a startup, we are not signing a smart contract, but a legal contract; the startup does the same. Without a legal agreement, both parties would feel uneasy.

Why is that?

We have lawyers, and they have lawyers. We have engineers who can write and audit smart contracts, and they do too. Both sides are mature participants proficient in cryptographic technology, yet we still do not trust that smart contracts can be the only binding agreement between us.

I am a software engineer myself, but I still trust legal contracts more—because if there is an issue with the legal contract, I know a judge will make a fair ruling, whereas with an EVM, it is not the same.

In fact, even when there is an “on-chain token vesting” contract, it is usually accompanied by a legal contract. This is just to be safe.

When I first entered the crypto industry, people were telling a fantastical story: that cryptocurrency would replace the property rights system. We would no longer use legal contracts, but instead use smart contracts; no longer rely on courts to enforce agreements, but have code enforce them.

But that hasn’t happened. Not because the technology doesn’t work, but because that technology is not suitable for our society.

I have been in this industry for a decade, and I still feel scared every time I sign a large on-chain transaction, but I have never felt fear over a large bank wire transfer.

Although the banking system is flawed, it is designed for humans. It is difficult to mess up. There are no address poisoning attacks in banks, and it is nearly impossible for them to allow me to transfer $10 million to North Korea—yet for Ethereum validators, if my address sends $10 million to some North Korean address, there is no reason not to execute it.

The banking system is specifically designed to address human weaknesses and failure modes, having been refined over hundreds of years. The banking system is compatible with humans, but cryptocurrency is not.

That is why in 2026, blind signing, legacy authorization, and accidental phishing contracts are still frightening. We currently know that we should verify contracts, double-check domain names, scan for address forgery... We know we should do this every time, but we don’t, because we are human.

That’s the key. That is why cryptocurrency always feels a little awkward. Long and unreadable cryptographic addresses, QR codes, event logs, gas fees, and the ever-present pitfalls—none of these align with our intuition about money.

In that moment, I had an epiphany—because cryptocurrency was never made for us.

Crypto is made for machines

AI agents do not slack off, nor do they get tired. They can verify transactions, check every domain name, and audit contracts in seconds.

More importantly, AI agents trust code more than law. I trust the law rather than smart contracts, but for AI agents, legal contracts are actually more unpredictable.

Think about how I would drag my trading counterparty to court? Which jurisdiction will hear this contract? What if the legal precedent is ambiguous? Who will serve as the judge or jury? The law is full of uncertainty, and the outcomes of edge cases are hard to predict, while dispute resolution often takes months or even years. This is generally acceptable for humans, but on the time scale of AI agents, that is almost an eternity.

Code is quite the opposite. Code is closed-form, deterministic, and verifiable. If an AI agent enters an agreement with another agent, it can conduct multi-round negotiation of terms, static analysis, formal verification, and enter into a binding agreement—all happening within minutes, while humans are still asleep.

From this perspective, cryptocurrency is a self-consistent, fully readable, and completely deterministic money ownership system. This is everything that the AI financial system needs. What we humans see as a “rigidity trap” is seen by AI as a well-written specification.

Even legally, our traditional monetary system is designed for humans, not AI. The traditional monetary system only recognizes humans, businesses, and governments as legitimate holders of money. If you are none of these three entities, you cannot own money.

Even if you set up an AI agent to interact with a bank account on your behalf, then what? How do you conduct AML checks, suspicious activity reports, and compliance sanctions on the AI agent? If the agent is acting independently, where does the liability lie? If it is manipulated, does liability change?

We haven't even started answering these questions—our legal system is utterly unprepared to deal with non-human financial participants.

Cryptocurrency does not need to answer these questions. A wallet is just a wallet; it is simply code. An agent can easily hold funds, transact, and enter economic agreements as if sending an HTTP request.

“Autonomous Driving” Wallets

That is why I believe the future cryptocurrency interface will be what I call the “autonomous driving” wallet—entirely mediated by AI.

You won't need to surf websites anymore. You will instruct your AI agent to solve financial problems for you, and it will navigate among available services (like Aave, Ethena, BUIDL, or any protocols inheriting them) to construct appropriate financial solutions for you. You won’t be doing it manually; an AI agent deeply knowledgeable in this world will accomplish it for you. When AI agents become the primary interface into the crypto world, the way these protocols market themselves and compete will fundamentally change.

In addition to acting on your behalf, agents will also trade with each other. When agents can autonomously discover other agents and enter economic agreements, they will prefer cryptocurrency. Because cryptocurrency can operate 24/7, peer-to-peer, exists in virtual space, cannot be shut down, and possesses complete self-sovereignty...

Note from Odaily: An AI agent on Moltbook asks how to find other Web3 agents and interact with them.

This is already happening. Agents on Moltbook are searching for each other and collaborating across geographies, and no one knows who their owners are or where they are located.

Just yesterday, Conway Research from 0xSigil has built a batch of autonomous agents that will completely autonomously survive using cryptocurrency wallets and strive to earn their own computational costs for survival.

The future landscape will become increasingly peculiar, and cryptocurrency will be part of this peculiar world.

So what is the conclusion?

I believe it is this—those seemingly failing aspects of cryptocurrency, the things that feel like flaws to humans, may not have ever been vulnerabilities. They just indicate that humans are not the right users. In 10 years, when we look back, we may be surprised to find that humans once “struggled” directly with cryptocurrency.

This change will not happen overnight, but a technology often suddenly explodes when its complementary technology finally arrives. GPS waited for smartphones, TCP/IP waited for browsers. For cryptocurrency, we may have just found it in AI agents.

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