Dragonfly Partner: Smart contracts are difficult to replace legal agreements, and cryptocurrencies are more designed for machines rather than humans

Odaily Planet Daily News: Dragonfly managing partner Haseeb stated on the X platform that despite being in the cryptocurrency industry, people still prefer to sign legal contracts in actual investment transactions rather than rely solely on smart contracts. Even when both parties are crypto-native institutions with technical capabilities and legal support, it is difficult to fully trust smart contracts as the only binding mechanism. Traditional banking systems have evolved over hundreds of years, designing risk control mechanisms around “human error”; in contrast, crypto systems are not human-friendly—complex addresses, phishing attacks, authorization vulnerabilities, and gas mechanisms all conflict with human intuition. Therefore, cryptocurrencies may not be built for humans but for machines. For example, AI agents can quickly verify contracts, analyze terms, and execute agreements, favoring deterministic code over legal systems with judicial uncertainties. Future crypto entry points will likely be self-driving wallets, fully managed by AI, which will configure assets, execute transactions, and even automatically reach economic agreements with other AI agents within DeFi protocols. Compared to the current mode where humans directly operate crypto protocols, this may only be a transitional phase. The “unfriendly” characteristics of crypto systems toward humans might not be flaws but rather a mismatch with users. Once AI becomes the main participant, the true adaptation scenarios for crypto may become apparent.