September 3, 2024
By Correspondent
Coinbase has announced its inaugural AI-to-AI cryptocurrency transaction, as revealed by CEO Brian Armstrong.
This development signifies a novel utilization of digital currency by artificial intelligence entities. Armstrong expressed optimism that this innovation will empower AI systems to autonomously procure resources and interact with both humans and other AI agents.
He urged developers to incorporate cryptocurrency wallets to facilitate the expansion of AI-to-AI transactions. In a recent post on the social media platform X, Brian Armstrong, the CEO of Coinbase (Nasdaq: COIN), shared a noteworthy achievement. He stated: “This week at the Coinbase Developer Platform, we observed our first AI-to-AI cryptocurrency transaction.”
Armstrong elaborated, “What did one AI purchase from another? Tokens! Not cryptocurrency tokens, but AI tokens—essentially words exchanged between two large language models. They utilized tokens to acquire tokens.”
Unlike humans, AI agents are unable to open traditional bank accounts; however, they can leverage cryptocurrency wallets to perform transactions using USDC on the Base blockchain platform. Armstrong characterized these transactions as “instant, global, and free,” which enhances the efficiency of AI interactions with humans, merchants, and other AI systems.
The CEO also addressed the broader ramifications of this advancement for AI technology. He noted that AI agents currently encounter challenges in executing tasks independently due to their inability to access conventional financial instruments, such as credit cards or payment options for services like AWS, GitHub, or Vercel.
This new functionality could enable AI to surmount these obstacles and independently secure essential resources. Armstrong encouraged developers engaged in AI model development to integrate cryptocurrency wallets utilizing Coinbase’s MPC Wallets. He also recommended that businesses prepare for AI-enabled payment processes, as the incorporation of financial services for AI could yield benefits for all stakeholders involved.
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