a16z crypto|Oct 19, 2026 16:29
.@circle set out to put dollars on the internet and make them work everywhere. Now @jerallaire thinks the main users of that infrastructure could be machines.
He joins @cdixon to talk about what comes after digital dollars, and what the agent economy needs when software can earn, spend, and hire.
Highlights:
1:58 Circle’s original vision for programmable money
7:19 Why institutions started taking stablecoins seriously
12:04 Learnings from building a global financial network
15:03 What gives a stablecoin its moat?
26:28 Crypto’s growing adoption in the shadow of AI
28:11 From making existing things better to creating entirely new markets
32:59 The weirdest experiments being built on Arc
37:02 What happens when AI hires AI
38:04 Why the next big thing starts out looking like a toy
39:05 Can blockchains counter AI’s centralizing tendencies?
44:01 What the machine economy could look like in five years
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