.@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