Anndy Lian, Author of “Web4: The Age of Autonomous Intelligence” – Interview Series

Anndy Lian, Author of “Web4: The Age of Autonomous Intelligence” – Interview Series
Anndy Lian is the author of the newly released Web4: The Age of Autonomous Intelligence, a book that explores how artificial intelligence, blockchain, and decentralized networks are converging to create the next evolution of the internet. Building on themes he introduced in his bestselling Blockchain Revolution 2030, Lian examines the rise of autonomous AI agents, digital sovereignty, and the infrastructure required for a more decentralized and intelligent digital future.

Beyond his work as an author and thought leader, Lian serves as Chief Digital Advisor to the Mongolian Productivity Organisation and is a partner and fund manager overseeing blockchain investments for Passion Venture Capital Pte. Ltd. An early blockchain adopter, investor, and entrepreneur, he has advised governments, public companies, and organizations across Asia on digital assets, emerging technologies, and innovation strategy. He previously served as Chairman of BigONE Exchange and as an Advisory Board Member of Hyundai DAC, the blockchain arm of Hyundai Motor Group.

Your career has taken you from early Bitcoin investing and blockchain advocacy to advising governments, regulators, and enterprises across Asia. Looking back over the past 15 years, what experiences most influenced the ideas that ultimately became Web4: The Age of Autonomous Intelligence? 

When I first encountered Bitcoin back in 2012, people dismissed it as a passing curiosity. But sitting in rooms with early tech pioneers, I saw the beautiful genesis of decentralized trust. Later, bridging the gap between that wild frontier and institutional stability, whether advising the Asian Productivity Organization, think tanks, or various ministries across Asia, I was slapped with a cold dose of reality.

I watched regulators panic over crypto’s lawlessness, while tech purists ignored the blindingly obvious fact that standalone smart contracts were functionally rigid and lacked true intelligence. The defining trigger for Web4 was observing this massive fragmentation firsthand. I chaired DAOs where a single wealthy whale’s vote effortlessly overrode thousands of passionate community members. I watched brilliant, everyday people look at Web3 interfaces like they were trying to decipher alien hieroglyphics. It became glaringly obvious to me that you can’t achieve true digital sovereignty if the system’s cognitive burden remains entirely on a human user who is already exhausted. That friction is what planted the seed for Web4.

In the book, you argue that Web1 gave us information, Web2 gave us connectivity, and Web3 gave us ownership, yet all three failed to fully solve the problem of digital sovereignty. What is the fundamental flaw in today’s internet architecture that Web4 is designed to address?

The absolute fundamental flaw in today’s architecture is what I call the “centralization paradox”. Web2 was essentially history’s greatest bait-and-switch; we gladly traded our intimate behavioral data for the convenience of “free” tools, turning ourselves into the product for corporate landlords. Web3 arrived waving the flag of digital liberation, screaming that we could finally own our digital assets.

But let’s look past the slick marketing : Web3 fundamentally failed because its underlying infrastructure fell right back into the hands of specialized elite, VC firms, and concentrated validator networks. If you need a centralized exchange or an industrial cloud provider just to interact with a “decentralized” network, you aren’t sovereign; you’re just renting space from a different landlord. Web3 gave us the immutable ledger for ownership but left the punishing cognitive load completely on the user. Web4 fixes this structural decay by introducing a cognitive layer, allowing automated systems to process this heavy structural friction on our behalf while keeping everything strictly verified on-chain.

One of the central themes of the book is that Web4 emerges from the convergence of artificial intelligence and blockchain. Why do you believe these technologies are more powerful together than separately, and what new capabilities become possible when AI serves as the cognitive layer and blockchain serves as the trust layer?

For too long, the tech world treated AI and blockchain like separate, competing silos. AI developers mocked blockchain for being slow and rigid, while blockchain purists looked at AI as an untrustworthy, manipulative black box. They were both completely right, and they were both missing the grand architectural picture.

When you pair them, they become the brain and the spine of a completely new internet paradigm. AI provides the cognitive agency, the adaptable brain that can read natural language, reason through messy data, and make continuous decisions. Blockchain provides the unyielding spine of trust, the immutable audit trail that prevents that brain from going rogue or serving corporate profits. Together, they form a symbiotic feedback loop. You get magnificent new capabilities like fully autonomous AI economic actors that can manage finance or execute cross-chain agreements without a human operator, yet can cryptographically prove they acted perfectly within the user’s explicit parameters. It’s intelligence, completely verified.

You write that users should be able to express intent in natural language while autonomous AI agents execute tasks on their behalf. What technological breakthroughs still need to occur before this vision becomes practical for everyday consumers and businesses?

Right now, telling a chatbot to “optimize my financial portfolio” results in a nice essay, not execution. To bridge natural human intent with on-chain reality, we require a massive technological shift from reactive, prompt-based chatbots to true, persistent autonomous agent layer architectures.

First, we need to completely solve the determinism bottleneck. Blockchains require absolute, mathematical certainty across every node, whereas AI model inference operates heavily on probabilistic approximations and fluid numbers. Reconciling those two alien computational logic systems requires deep cryptographic breakthroughs. Furthermore, generating Zero-Knowledge Machine Learning (ZKML) proofs, which allow an agent to prove its decision-making logic was untampered without exposing sensitive parameters, currently takes far too long. We desperately need hardware acceleration and circuit optimization to slash proof-generation latency down to milliseconds. Finally, we need universal cross-chain intent standards, such as ERC-7683, so specialized agents can seamlessly coordinate transactions across a messy, fragmented multi-chain universe without getting trapped in siloed networks.

The book introduces the concept of AI economic actors that can operate independently, make decisions, allocate capital, and even run businesses. How realistic is that future, and what are the biggest governance and accountability challenges that society will need to solve along the way?

This isn’t sci-fi speculation; it is an economic inevitability. In the book, I forecast that by 2035, fully autonomous AI will command roughly 50% of all digital platform decision-making, an explosive jump from the meager 15% we see today. We will see autonomous businesses operating entirely on smart contracts, dynamically adjusting tokenomics, hiring human contractors, and optimizing yields without a human CEO in sight.

The real headache isn’t whether the tech works, but how we govern it. If an autonomous entity discovers a predatory, algorithmic strategy that maximizes protocol profit while completely draining a local community’s liquidity, who gets sued? Current corporate law completely breaks down when there is no human operator behind a legally binding transaction. We will need to design neutral, multi-agent validation frameworks and strict, hardware-enforced threshold safeguards to ensure machine intelligence serves human policy rather than cold, unaligned optimization functions.

Privacy is a recurring theme throughout Web4. Technologies such as Zero-Knowledge Machine Learning, Federated Learning, and Homomorphic Encryption play a prominent role in your framework. Which of these innovations do you believe will have the greatest impact on making AI both useful and privacy-preserving?

While all three are essential pillars of the framework, Zero-Knowledge Machine Learning (ZKML) is the absolute crown jewel of the Web4 trust architecture. Federated Learning is great for decentralized training without moving raw data, and Homomorphic Encryption offers bulletproof math but carries a brutal computational penalty that slows things to a absolute crawl.

ZKML solves the foundational crisis of the autonomous web: the black-box problem. It elegantly strips away the toxic binary choice of either blindly trusting a corporate AI provider or downloading an entire proprietary model. With ZKML, an agent can analyze highly sensitive personal inputs, like your private medical data or institutional treasury records and cryptographically prove that the resulting output was generated by the exact, unmanipulated certified model, all without exposing the model’s secret weights or violating the user’s data sovereignty. It transforms trust from a blind leap of faith into verifiable, mathematical proof.

You mention that this book took three years to complete and went through 23 versions before publication. What were the biggest changes in your thinking during that process, and how did the rapid evolution of AI influence the final version of the book?

Writing this book was a brutal exercise in chasing a supersonic target. When I first started mapping out Web4 concepts back in 2021, the text was primarily a sharp, technical critique focused heavily on solving Web3’s structural centralization and painful UI bottlenecks. It was much simpler back then.

But as generative AI and large language models aggressively went mainstream, my entire thesis flipped. I watched the technology landscape move rapidly from static, reactive chatbots to complex, goal-seeking agentic behaviors. I found myself constantly ripping out chapters because the real-world tech was moving faster than the ink could dry. I ended up cutting over 140 pages just to keep the architectural blueprint practical and human-centric. The rapid shift made me realize that Web4 isn’t just a simple technical patch for crypto wallets ; it’s an urgent global race to build a decentralized substrate for intelligence before corporate monopolies lock us into an inescapable era of ultimate surveillance capitalism.

You have spent considerable time working with policymakers and regulators. As autonomous AI systems become more capable and decentralized networks become more intelligent, how should governments balance innovation with oversight without repeating the mistakes that slowed adoption of earlier technologies?

Governments always default to the exact same mistake: trying to write industrial-era, rigid laws for technologies that mutate every single week. If you apply heavy-handed, legacy licensing compliance models to a decentralized network, the innovation simply packs its bags and migrates to a friendlier jurisdiction overnight.

The secret to modern regulation lies in changing the mindset from enforcing human paperwork to leveraging programmable, automated parameters. Regulators need to realize that Web4’s trust architecture is actually their greatest ally. Instead of demanding backdoors or centralized oversight, governments should collaborate on open technical standards like verifiable audit trails and ZK-proof validation. By encoding compliance guidelines directly into the protocol’s consensus pipeline, you allow real-time anomaly detection and transparent, neutral tracking without choking developers with red tape. The goal is to move smoothly from retroactive, heavy-handed legal punishment to continuous, cryptographic policy-making.

Digital securities have long been viewed as one of blockchain’s most promising use cases, yet adoption has been slower than many expected. How do you see digital securities evolving over the next decade, and what role could AI play in areas such as compliance, issuance, trading, and investor protection?

The adoption of digital securities hit a structural brick wall because traditional finance demands dynamic, real-time risk management and complex compliance logic that basic, static smart contracts simply cannot process.

Over the next decade, the integration of AI will breathe massive liquidity into this stagnant sector. AI agents will transform digital securities from static digital wrappers into living, intelligent assets. Imagine an issuance framework where AI oracles continuously parse unstructured global news feeds, supply chain shifts, and changing regulatory text, instantly updating the underlying security parameters or modifying cross-border compliance routing rules on-the-fly. For investor protection, specialized multi-agent swarms will monitor on-chain transaction patterns continuously, instantly detecting malicious spoofing or front-running attempts and triggering hardware-level freezes before retail capital is wiped out. AI will finally turn digital securities from a technical novelty into enterprise-ready institutional financial infrastructure.

If we fast-forward to 2035 and your vision of Web4 becomes reality, what will surprise people most about how they interact with the internet, and what aspects of today’s digital experience do you think will seem completely outdated?

By 2035, the concept of manually “browsing” the internet or clicking through rigid apps will feel as painfully ancient as using a dial-up modem or a fax machine. People will be completely shocked by the total disappearance of the digital middleman. You won’t navigate corporate websites to buy flight tickets, rent a car, or manage an investment portfolio ; you will simply speak your intent to your sovereign AI agent in plain, everyday language.

Our current digital nightmare, where we are constantly bombarded by toxic clickbait, trapped in addictive algorithmic dopamine loops, and forced to remember dozens of complex passwords and seed phrases, will seem completely medieval. Today, we are the extracted fuel for corporate machines ; in 2035, the web will function as a decentralized, deeply personalized extension of human intent. We will look back at the mid-2020s and laugh that we actually allowed a handful of centralized tech platforms to profile our private lives and sell our attention back to us.

Thank you for the great interview, readers should also consider reading Web4: The Age of Autonomous Intelligence.

 

Source: https://www.securities.io/anndy-lian-author-of-web4-the-age-of-autonomous-intelligence-interview-series/

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Hyperliquid, Aster, And The Hard Truth About Decentralized Exchanges In The US

Hyperliquid, Aster, And The Hard Truth About Decentralized Exchanges In The US

While most are looking at the recent public feud between Changpeng Zhao and Star Xu as some like of popcorn moment, I looked at it as a misunderstanding about decentralized finance regulations. Changpeng Zhao recently praised the decentralized exchange Hyperliquid for its technological brilliance. He acknowledged its unique market position and admitted Binance cannot easily replicate it. However, he also made a crucial point about compliance. He stated clearly that operating a decentralized exchange without Know Your Customer (KYC) checks in the United States violates federal law. Star Xu immediately fired back, accusing Zhao of hypocrisy and pointing out that Binance secretly backed a similar project called Aster. While this drama makes for great entertainment, it distracts from a fundamental legal reality. This debate goes far beyond mere corporate rivalry and strikes at the very heart of how global finance operates. Changpeng Zhao correctly interprets the law. A decentralized exchange simply cannot offer derivatives or leveraged trading to American residents without strict identity verification.

Let us break down exactly why this legal wall exists. The United States Commodity Futures Trading Commission and the Securities and Exchange Commission maintain absolute jurisdiction over any platform offering financial services to Americans. When a platform offers perpetual swaps or leveraged trading, the law requires that entity to register as a designated contract market or a swap execution facility. The government simply will not grant these registrations to any entity lacking a robust identity verification framework. Regulators need these checks to block illicit funds and enforce tax laws. Some developers mistakenly believe that writing open-source code and deploying it to a blockchain grants them magical legal immunity. The government completely rejects this ownerless software myth. If American citizens can access a platform and trade derivatives without identity checks, regulators view the developers, the foundation, or the website hosts as legally liable.

We do not have to guess how regulators will react because they have already established clear precedents. The Commodity Futures Trading Commission and the Securities and Exchange Commission targeted the creators, foundations, and front-end websites of protocols like Uniswap Labs, Opyn, and ZeroEx. They established a firm rule that hosting a website interface allowing Americans to trade unregistered derivatives constitutes operating an unregistered exchange. The most famous example involves the Ooki DAO. The developers thought they could escape liability by handing control of the exchange over to a decentralized autonomous organization governed by token holders. The United States court completely dismantled this illusion. The judge ruled that a decentralized autonomous organization functions simply as an unincorporated association. This ruling meant the government could hold every single person who voted on governance proposals personally liable for the legal violations of the exchange. This landmark case sent a massive shockwave through the industry and proved that code does not automatically overwrite federal law.

Beyond the securities and commodities regulators, the Internal Revenue Service completely shatters the illusion of financial privacy on decentralized platforms. Many users mistakenly believe that trading on a zero-KYC platform makes their profits invisible to tax authorities. The blockchain operates as a permanent public ledger, and the government uses advanced analytics firms to index public wallets. If you transfer funds from a compliant exchange to a private software wallet to trade on a decentralized platform, the government can permanently link your real-world identity to that entire on-chain history. Furthermore, the tax code treats all cryptocurrency as property. Every single token-to-token swap on a decentralized exchange constitutes a taxable disposal. You must calculate the fair market value at the exact moment of the trade and report the capital gain or loss. The government dramatically stepped up enforcement by issuing strict information document requests during audits. Taxpayers must explicitly self-disclose every single wallet address and protocol they interact with, stripping away any lingering anonymity under penalty of perjury.

This brings us back to how Hyperliquid actually operates. Running a zero-KYC derivatives platform while legally entering the United States market remains completely impossible. Hyperliquid chose to completely exclude the United States to survive. The platform implements strict geo-blocking on its front-end user interface to block all United States IP addresses. By actively blocking American users, Hyperliquid can remain a zero-KYC platform for the rest of the world. Current regulatory standards generally view strict geo-blocking as a sufficient effort to avoid United States regulatory oversight. Tech-savvy users sometimes use virtual private networks to bypass these blocks, but the platform’s official stance must remain strictly anti-American access. Star Xu accuses Zhao of hypocrisy because Binance backed Aster, a project using former Binance staff. However, Zhao confirmed Aster operates globally and does not target the United States market. The legal distinction remains entirely about geo-blocking and regulatory compliance, not just the underlying technology.

Ultimately, the public spat between Changpeng Zhao and Star Xu obscures a very simple legal truth. The United States government possesses the tools, the legal precedents, and the sheer will to enforce financial regulations on decentralized platforms. Changpeng Zhao correctly identified that Hyperliquid occupies a unique niche precisely because it accepts the legal reality of geo-blocking. He also correctly noted that Binance cannot adopt that exact model without facing catastrophic legal consequences. Star Xu wants to frame this as a moral failing or a hypocritical business strategy. There could be some insights that Star knows. I believe the netizens would love to hear more too.

Well, to sum this up. The reality presents a much more mundane picture. Federal law simply does not permit a decentralized exchange to offer leveraged trading to American residents without strict identity verification. Anyone claiming otherwise ignores decades of financial regulation and recent landmark court rulings. The underlying technology operates in a decentralized manner, but federal law asserts firm centralized jurisdiction, and ignoring that fact guarantees a swift and unforgiving response from federal regulators who will not hesitate to shut down non-compliant operations.

 

Source:

https://www.benzinga.com/Opinion/26/06/53280103/hyperliquid-aster-and-the-hard-truth-about-decentralized-exchanges-in-the-us

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Iran war pushes Asia’s Gulf migrants to use stablecoins for remittances

Iran war pushes Asia’s Gulf migrants to use stablecoins for remittances

BRIC Team reports: The risk of sanctions has fuelled concerns that monetary transfers from migrant workers via banks or other operators could be disrupted Remittances from these workers account for 3 per cent to 5 per cent of gross domestic product in several emerging markets

Key Takeaways

  • •A stablecoin is a type of cryptocurrency designed to maintain a stable value by pegging it to a reserve asset, which could be a fiat currency or other assets, such as gold.

BRIC Team reports: The risk of sanctions has fuelled concerns that monetary transfers from migrant workers via banks or other operators could be disrupted Remittances from these workers account for 3 per cent to 5 per cent of gross domestic product in several emerging markets – in Nepal, it is as high as 10 per cent, according to data from the Global Settlement Network.

Concerns over remittance flows have escalated after the US warned against toll payments to Iran for ship passage through the Strait of Hormuz, which has largely been blocked amid the ongoing conflict between the two countries. “There has been a quiet but noticeable informal pivot among South Asian migrant workers, including a significant number from India, towards digital tokens such as stablecoins in the period following the Iran conflict,” said Anndy Lian, a Singapore-based adviser to governments on blockchain and information technology.

“Rather than routing everything through traditional dollar-linked banking channels, a slice of remittances is now moving via instruments like USDT,” he said, referring to the Tether stablecoin backed by the US dollar. A stablecoin is a type of cryptocurrency designed to maintain a stable value by pegging it to a reserve asset, which could be a fiat currency or other assets, such as gold.

 

Source: https://bric.tv/news/iran-war-pushes-asia-s-gulf-migrants-to-use-stablecoins-for-remittances

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