Ex-Ethereum Dev: Blockchain Could Be the Cure for AI’s Big Tech Monopoly

Ethereum could be about to find its most important practical use yet — not in banking, but artificial intelligence.

On April 15, Eric Connor, a now-former Ethereum core developer, wrote on X that the blockchain could address a lot of the largest flaws with AI, from centralized control and lack of transparency to data risk of privacy breaches.

"AI is beset by black-box models, centralized data silos, and privacy pitfalls," Connor wrote. "Ethereum is well-positioned to change that."

Ethereum has already shown the world trustless, programmable finance through DeFi and stablecoins. But its biggest mainstream moment is waiting in the wings with AI.

AI is on a fast-track to reshape almost every aspect of our lives. But it’s plagued by black-box models,…

— Eric Conner (@econoar) April 15, 2025

Ethereum vs Big Tech in AI

Connor views Ethereum as a trustless infrastructure layer that can decentralize AI development, providing an alternative to the stranglehold of tech giants.

He pointed to Ethereum's advantages — open smart contracts, token-based incentives, and natively integrated micropayments — as technologies that would enable AI training and deployment to be more democratic and transparent.

Smart contracts, specifically, could be employed to record AI training data, source datasets equitably, and enforce open-source decision-making, as a way of fighting the hidden practices of proprietary AI providers.

Nevertheless, Connor recognized that the mainstream AI firms are not likely to adopt such openness on their own, as their models depend greatly on proprietary data and algorithms.

Ethereum and the Emergence of Agentic AI

Connor also identified agentic AI as a significant opportunity for Ethereum — an idea wherein autonomous AI agents engage with smart contracts, hold digital assets, and make decisions in real-time on-chain.

A recent Ethereum Foundation blog post highlighted new examples of this trend:

• Luna – a virtual influencer that manages an on-chain wallet.
• AIXBT – an AI crypto insights agent.
• Botto – an autonomous NFT artist that creates art based on community feedback.

Other tools such as Bankr and HeyAnon are enabling users to interact with Ethereum through natural language commands, reducing the barrier to entry.

Connor thinks Ethereum will need to keep developing developer software, research stacks, and end-user applications in order to drive this new age of decentralized AI.

"This is an opportunity for Ethereum to leap beyond DeFi and become the backbone for adopting ethical AI," he said.
Not all are as bullish on Ethereum's future. Crypto venture capitalist Nic Carter, Castle Island Ventures partner, recently attributed the growth of layer-2 (L2) networks to diminishing Ethereum's investment value.

Carter criticized L2s for taking user activity and fee revenue from Ethereum's base layer without giving back — labeling them "greedy.

He also condemned Ethereum's token inflation, saying that ETH was "buried in an avalanche of its own tokens. Died by its own hand."

This was confirmed by Quinn Thompson of Lekker Capital, who announced that Ethereum is "completely dead" as an investment opportunity with declining activity, decelerating growth, and dwindling network revenues.

Carter earlier warned last September 2024 that fee revenue of Ethereum had fallen 99% over six months due primarily to L2s absorbing volume.