Coinbase CEO Brian Armstrong shared that AI bots conducted their first crypto transaction entirely on their own.
AI self-development
Brian Armstrong shared that an AI agent successfully used cryptocurrency to interact with another AI agent, completing a transaction to acquire AI tokens.
— Brian Armstrong (@brian_armstrong) August 30, 2024
These tokens aren’t actual cryptocurrencies but pieces of data that help algorithms learn and improve.
Armstrong told that this exchange of tokens by AI bots is a very important key development, as it demonstrates that AI can now handle transactions, something they previously couldn’t do effectively. It’s the next level in the progress.
AI payment was the missing link
He pointed out that one major reason AI hasn’t been more effective is because it couldn’t carry out transactions.
It couldn’t pay, so AI struggled with basic tasks like booking travel or managing social media beyond just posting content.
And now, due to the regulations, AI agents can’t have traditional bank accounts, but they can have crypto wallets, allowing them to use digital currencies like USDC on the Base platform.
This opens up the possibility for AI to conduct instant, global, and cost-free transactions with people, businesses, or other AI agents.
Upgrading tools
Not so long ago Armstrong suggested that large language models like ChatGPT should be equipped with crypto wallets.
He believes that enabling AI to handle transactions will help them become more useful in the economy, performing tasks on behalf of their users.
This is common view btw, various companies in the crypto industry already launched platforms for giving AI the ability to manage transactions independently.
In August, Skyfire introduced a payment platform that allows AI agents to spend money without human intervention. Biconomy also started onboarding AI agents in June to facilitate on-chain transactions for users.
Aniket Jindal, Biconomy’s co-founder, explained that their Delegated Authorization Network is a new system that allows trading activities to be delegated to AI agents, enabling more complex and autonomous operations in the digital economy.
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