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Coinbase CEO Brian Armstrong announced a groundbreaking development in the crypto sector. Armstrong revealed the first crypto transaction entirely managed by artificial intelligence (AI) bots on the platform. This transaction is considered a significant step at the intersection of AI and cryptocurrencies.
Armstrong Announced the Development on X
On August 30, Armstrong shared, “This week, we witnessed the first AI-to-AI crypto transaction on Coinbase.” In this transaction, an AI bot interacted with another AI bot using cryptocurrencies, and the AI purchased tokens. These tokens play a critical role in the development of AI technologies as data sequences that enable algorithm learning.
Armstrong highlighted another important point: AI bots were designed to perform specific tasks but struggled to manage transactions until now. This was seen as one of the biggest obstacles to integrating AI into daily life. Without payment methods, AI bots couldn’t participate in economic activities, but the advent of crypto wallets is gradually removing this barrier.
They Can’t Open Bank Accounts
Armstrong noted that while AI bots cannot open traditional bank accounts, they can possess crypto wallets. These wallets enable bots to perform instant, global, and free transactions on the Base platform using cryptocurrencies like USDC. This development paves the way for AI bots to become active participants in the digital economy.
Armstrong’s innovative approach aligns with his previous calls for equipping AI systems like large language models (LLMs) with crypto wallets. Armstrong aims to revolutionize the world of digital transactions by enabling AI bots to perform tasks on behalf of users and participate widely in the economy.
Other Developments Are Also Underway
The sector is responding to Armstrong’s vision with new developments that grant transaction capabilities to AI bots. For instance, in August, the Blockchain development firm Skyfire launched a payment platform that allows AI bots to autonomously spend money. This platform enables AI to manage financial transactions independently, a function previously exclusive to humans.
Additionally, the Web3 infrastructure firm Biconomy is taking significant steps by deploying AI bots to facilitate on-chain transactions for users. According to co-founder Aniket Jindal, the Delegated Authorization Network (DAN) introduces a new authorization phase that allows commercial activities to be delegated to AI bots.
