LinkedIn co-founder unveils 'obvious answer' to AI identity

Reid Hoffman, the billionaire co-founder of the social media giant LinkedIn, recently arrived for a session at Consensus Miami, and unveiled what he believes is the "obvious answer" to digital identity challenges in the AI age.

As per Hoffman, a blockchain ledger system is better suited than traditional infrastructure to uphold the integrity of digital identities, and crypto is the "obvious answer" in the AI age.

Crypto, as the name suggests, runs on cryptography and decentralized model, which is crucial to verify digital identities amidst the uncertainty caused by AI-generated fake content, he argued.

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Early Bitcoin believer

Hoffman added that he has been holding Bitcoin (BTC) for over a decade and doesn't intend to sell it. The amount remains disclosed.

In response to when he is willing to sell Bitcoin, he said, “Is there such a thing as an exit price?”

An early believer in cryptocurrencies, he once called Bitcoin the "future of currency" in a piece in 2015. He also disclosed investing in Bitcoin startups Xapo and Blockstream in 2014.

Bitcoin is decentralized and eliminates the need for expensive centralized third parties such as banks and payments processors to verify online exchanges of value, he highlighted.

Another factor he highlighted about Bitcoin is that it makes money programmable.

The truth is Bitcoin functions pretty well as a currency, he argued then. It is also an asset, which means owning Bitcoin is the same as owning equity in the overall Bitcoin system, he added.

In 2014, Bitcoin was worth barely $1,000 when Hoffman says he bought it. It is currently trading at $81,345.02 at press time.

Related: Wikipedia founder reveals shocking Bitcoin price target