Last week saw Artificial Intelligence (AI) reach a new level within the cryptocurrency space. Brian Armstrong, CEO of leading digital asset exchange, Coinbase, announced the successful execution of his first crypto transaction managed entirely by AI agents.
Commenting on the transaction between two AI bots, Armstrong said in an article posted to his X account, “This week at Coinbase we witnessed our first AI to AI crypto transaction.”
AI Agents Able To Use Crypto Wallets & Tokens But Not Bank Accounts
🚀 AI Meets Crypto! 🚀
Coinbase CEO Brian Armstrong reveals the first AI-to-AI crypto transaction! 🤖💰 One AI bought AI tokens from another AI using crypto. Could this groundbreaking move revolutionize the crypto landscape?
What do you think?
👍 Yes, it's a game-changer
👎 No,… pic.twitter.com/pc004k7ru8— Zeebu Fan Club (@ZeebuFanClub) September 2, 2024
The transaction involved one AI agent using digital assets to interact with another AI agent to acquire AI tokens. The AI tokens are essentially words, or to be more technical, strings of data.
Armstrong expanded on the current limitations of AI agents, “AI agents cannot get bank accounts, but they can get crypto wallets. They can now use USDC on Base to transact with humans, merchants, or other AIs. Those transactions are instant, global, and free.”
He went on to say, “They (AI Agents) don’t have a credit card to use AWS, Github, or Vercel. They don’t have a payment method to book you the plane ticket or hotel for your upcoming trip. They can’t get through paywalls (for instance to read a scientific article), promote their post on X with a paid ad, or use the growing network of paid APIs to integrate data they need.”
Btw here is a great example of how easy it is to integrate a crypto wallet into an LLM using @CoinbaseDev tools
Shout out to @ShinkaiProtocol 🙌 https://t.co/jBXhatUbvd pic.twitter.com/Al1PztDhMQ
— Brian Armstrong (@brian_armstrong) August 30, 2024
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Armstrong Makes A Call For AI & LLM Developers To Incorporate Coinbase’s AI Ready Crypto Wallet
The Coinbase CEO then made a call for any developers of Large Language Model (LLM) or AI models to integrate his platforms crypto wallet to conduct transactions. He finished the article by pondering the future of the AI-to-AI economy.
Armstrong said, “And if you are a company that sells a service – get ready for your shopping cart to be AI checkout enabled. It turns out everyone benefits from having access to good financial services, including AIs! How big will the AI to AI economy be a few years from now?”
It's funny to look back on how I thought payments was going to be the first killer app for crypto, and it turned out trading was the best business in crypto for the first 10 years.
I think payments will probably take off in the second 10 years, now that we have stablecoins…
— Brian Armstrong (@brian_armstrong) August 26, 2024
This comes after Armstrong recently spoke on his prediction of payments being the first killer app for crypto and how that did not work out. Instead, he acknowledged that trading was and still is the biggest sector within crypto. He went on to say that due to the growth of stablecoins, payments should have a strong showing over the next decade.
RELATED: Coinbase CEO Calls For Payments To Be Next Big Thing In Crypto, Following Stablecoins
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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