This event follows various industry efforts to develop platforms that enable AI agents to execute transactions autonomously.
Armstrong detailed how one AI bot utilized crypto tokens to interact with another AI bot, ultimately acquiring AI tokens.
AI Bots Complete Crypto Transactions with USDC
These AI tokens, essentially strings of data, help algorithms learn from information and improve their functionality. Armstrong emphasized that a major limitation of current AI agents is their lack of transaction capabilities.
Traditionally, AI agents have struggled with essential tasks such as booking flights or hotels and managing social media activities beyond content creation, including tasks like promoting posts with paid ads. The inability of AI agents to access traditional bank accounts has further constrained their utility in these areas.
Source: X
However, Armstrong pointed out that the scenario is changing. “AI agents cannot get bank accounts, but they can get crypto wallets,” he noted. With the ability to use stablecoins like USDC on the Base network, AI agents can now engage in transactions with humans, merchants, and other AI entities. These transactions benefit from being instant, global, and free of traditional financial barriers, thus vastly expanding the scope of what AI agents can achieve.
More About Coinbase & AI Agents
This development comes shortly after Armstrong’s call for large language models (LLMs) to incorporate crypto wallets. LLMs, the technology behind AI systems like OpenAI’s ChatGPT and Anthropic’s Claude, have shown immense potential in various applications. Armstrong’s proposal aimed to enhance the functionality of these models by enabling them to manage and execute transactions, thus allowing them to participate more fully in the economy.
Source: X
“Let’s help AI agents get work done (on your behalf) and participate in the economy,” Armstrong asserted. This vision reflects a growing trend towards integrating AI with blockchain technology to unlock new possibilities for automation and efficiency. As AI agents gain the ability to perform transactions seamlessly, they could transform numerous sectors by handling tasks that require financial interactions, ultimately leading to more sophisticated and autonomous digital agents.
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