AI Models Transact Cryptocurrency: A World First

MetaversePlanet September 2, 2024Last Updated: September 2, 2024

0 1 minute read

Coinbase, one of the world’s largest cryptocurrency exchanges, has recently made a groundbreaking announcement. The company’s CEO, Brian Armstrong, revealed that for the first time in history, a crypto transaction was successfully executed between two artificial intelligence models.

This pioneering transaction was carried out using the Coinbase Developer Platform, marking a significant milestone in the intersection of cryptocurrency and AI technology. Armstrong shared this historic development on social media, highlighting it as the result of long-term efforts to integrate AI with blockchain technology.

Artificial intelligence models sent tokens to each other

The CEO used crypto tokens from one AI bot, designed for a specific task, and received an AI token from another bot. Artificial intelligence tokens are essentially data that allow models to gain information. In other words, two different types of tokens were used in this transaction: one was cryptocurrency tokens, and the other was tokens used for AI training. The payment was made in crypto tokens, in exchange for which an AI token was received. This entire process was conducted between two AI models. Armstrong described the transaction by saying, “They used tokens to buy tokens.”

These models, known as artificial intelligence agents, are still in the early stages of development. They currently lack the capability to perform basic functions, such as purchasing plane tickets without a proper payment method. However, this step indicates that they are gradually progressing toward that level of functionality.

Armstrong also mentioned that while these models won’t be able to access their bank accounts, they will be able to acquire crypto wallets. According to the Coinbase CEO, bots will be able to conduct transactions freely with humans or other AI models using USDC, which is accepted worldwide. In other words, we may soon start seeing AI models acting as intermediaries in transactions.