Brian Armstrong, the CEO of Coinbase, regards the transaction as a “significant advance toward AIs performing valuable tasks.”
Following numerous industry initiatives to establish platforms for AI agents to implement transactions, Coinbase CEO Brian Armstrong recently supervised his first crypto transaction that was entirely managed by artificial intelligence bots.
In an Aug. 30 X post, Coinbase CEO Brian Armstrong stated, “This week at @CoinbaseDev, we witnessed our first AI-to-AI crypto transaction.”
Armstrong clarified that a single AI agent, which is essentially a “bot” constructed to execute a specific task, utilized crypto tokens to engage with another AI agent and acquire AI tokens. In essence, these AI tokens are sequences of data that facilitate the learning process of algorithms from information.
Armstrong reiterated, “They acquired tokens through token purchases.” He also clarified that the absence of transaction capabilities is a significant factor contributing to the current ineffectiveness of AI agents. They encounter difficulty with fundamental tasks, such as reserving lodgings or plane tickets, and even managing social media tasks that extend beyond content creation, such as promoting posts with paid advertisements, in the absence of a payment method.
“AI agents are unable to obtain bank accounts; however, they can obtain cryptocurrency purses.” They can now engage in transactions with humans, merchants, or other AIs by utilizing USDC on Base.
It is a mere few weeks since Armstrong advocated for the inclusion of crypto wallets in large language models (LLMs), the technology that powers AI systems like Anthropic’s Claude and OpenAI’s ChatGPT. According to Armstrong, “Let us assist AI agents in completing tasks on your behalf and engage in the economy.”
It is the result of the implementation of new platforms by a variety of crypto firms, which are intended to empower AI agents to execute transactions.
Skyfire, a blockchain development firm, recently introduced a payment platform in August that enables AI agents to spend money autonomously.
In the meantime, on June 11, Cointelegraph reported that Biconomy, a Web3 infrastructure firm, is integrating AI agents to facilitate on-chain transactions on behalf of users.
According to Aniket Jindal, co-founder of Biconomy, the Delegated Authorization Network (DAN) is a “relatively new” authorization layer that enables the delegation of trading activities to AI agents. Jindal explained this to Cointelegraph.
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