Brian Armstrong, the CEO of the Coinbase exchange, announced that the exchange made the first cryptocurrency transaction between artificial intelligence robots on August 30 (September 9). In this transaction, an AI bot used digital currency tokens to buy AI tokens from another bot. Armstrong believes that the ability for AI agents to perform transactions could be transformative, as these agents are currently unable to perform useful tasks on their own. He also mentioned that AI agents can transact with humans, vendors, and other AIs. Other companies such as Skyfire and Biconomy are also developing platforms that allow artificial intelligence to perform financial transactions.Coinbase made the first cryptocurrency transaction between artificial intelligence bots
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Armstrong believes that having AI agents that can conduct transactions will be a game changer and can benefit everyone. This is especially true for businesses who can use AI agents to make their shopping carts AI checkout enabled.
Development of transacting AI bots
Coinbase is not alone in trying to give AIs the power to conduct transactions. For instance, earlier this month, blockchain development firm Skyfire announced the launch of a payment platform that enables AIs to spend money.Coinbase made the first cryptocurrency transaction between artificial intelligence bots
In June, Biconomy, a Web3 infrastructure company, started onboarding AI bots. This allows users to delegate trading activities to AI agents, who can then conduct on-chain transactions.
Crypto exchange Coinbase witnessed its first crypto transaction between artificial intelligence (AI) bots on Aug 30, CEO Brian Armstrong announced in a post on X.
He explained that one large language model (LLM) used crypto tokens to buy AI tokens from another AI bot. Bots are developed to carry out specific tasks — in this case, to carry out crypto transactions.
While AI bots cannot have bank accounts, they can own crypto wallets. These AI bots will now be able to conduct transactions with humans, merchants, and other AIs. Armstrong noted:
“Those transactions are instant, global, and free.”
According to Armstrong, AI agents are not currently effective because even when they are assigned a task and left alone for hours or days, they cannot seem to accomplish it. He said:
“Today if you give an AI agent a task and come back in a few days or hours, it can’t get useful work done.”
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