Analysis

First ‘AI to AI’ Crypto Payments Now Underway, According to Coinbase CEO Brian Armstrong

Published

1 year ago

September 1, 2024

Coinbase CEO Brian Armstrong says synthetic intelligence (AI) brokers are actually conducting crypto transactions amongst themselves.

In a brand new thread on the social media platform X, Armstrong say the biggest US-based crypto alternate witnessed its first AI-to-AI transaction earlier this week.

“What did one AI purchase from one other? Tokens! Not crypto tokens, however AI tokens (phrases that really transfer from one language studying mannequin to a different). They used tokens to purchase tokens. AI brokers cannot get financial institution accounts, however they will get crypto wallets.

They’ll now use USDC on base to transact with people, retailers, or different AIs. These transactions are instantaneous, worldwide and free.”

In response to Armstrong, with the ability to transact with different AI brokers to accumulate assets is a big step ahead, because the capabilities of AI know-how are presently restricted when it comes to utilizing conventional types of fee.

“At present, when you give an AI agent a process and are available again in a couple of days or hours, it might’t get any helpful work executed. Partly, this can be a limitation of the know-how itself… AIs can’t transact to accumulate the assets they want. They do not have a bank card to make use of AWS (Amazon Internet Companies), Github or Vercel.

They haven’t any fee technique to e book the airplane ticket or resort to your upcoming journey. They cannot break by means of paywalls (for instance, to learn a scientific article), promote their publish on X with a paid advert, or use the rising community of paid APIs (software programming interfaces) to combine the info they should have…

It seems that everybody advantages from entry to good monetary companies, together with AI!”

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