Brian Armstrong claims that the Coinbase Developer Platform has witnessed its inaugural AI-to-AI cryptocurrency transaction
Brian Armstrong, the Co-Founder and CEO of Coinbase, announced on August 30 that Coinbase Development had facilitated the first-ever AI-to-AI crypto transaction, marking a significant milestone in the integration of AI and cryptocurrency.
In this transaction, one AI acquired tokens from another AI; however, these tokens were not conventional cryptocurrency tokens; rather, they were words that were exchanged between large language models (LLMs). Armstrong emphasized the event’s distinctiveness, observing that AIs effectively “used tokens to purchase tokens.”
USDC was employed to execute the transaction on Base, a Layer 2 blockchain that was constructed on Ethereum and underwent substantial development under the leadership of Coinbase. The purpose of Base is to facilitate scalable, low-cost transactions, which are ideal for AI agents to partake in immediate, global, and fee-free transactions. Armstrong underscored that, despite the fact that AI agents are unable to maintain conventional bank accounts, they can utilize crypto purses to engage in transactions with humans, other AIs, and merchants, thereby significantly expanding their operational capabilities.
Armstrong also noted that this advancement is a critical stage in the process of enhancing the autonomy and task-completion capabilities of AI agents. The current state of AI agents is characterized by technological constraints and the inability to transact in order to acquire the resources they require. For example, AI agents are unable to access cloud services, APIs, or book travel using credit cards. The capacity to execute transactions through crypto wallets can assist in surmounting these obstacles, thereby enabling AI agents to operate more autonomously.
The Coinbase Development Platform (CDP) is central to this innovation, as it offers MPC (Multi-Party Computation) wallets that are specifically designed for AI agents. These accounts enable AI agents to independently manage their finances, making financial decisions and implementing transactions without human intervention. The MPC technology guarantees the security and scalability of these operations, enabling them to efficiently manage millions of transactions.
AI accounts provide numerous advantages. They provide AI agents with financial autonomy, which enables them to autonomously make decisions and conduct transactions. The utilization of MPC technology guarantees the security of these transactions and the regulation of AI operations. Additionally, these wallets are appropriate for extensive operations due to their scalability, which allows for high volumes of transactions.
AI wallets have a plethora of prospective applications. AI could interpret and execute intricate financial operations, while users could manage their affairs through straightforward text commands. In addition to recommendations, personal AI assistants could manage payments, reservations, and planning. Autonomous creation, publication, and management of earnings are feasible with AI-driven content monetization systems. Additionally, self-driving vehicles have the potential to independently manage payments for maintenance, transportation, and other services.
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