AI Can Transaction Crypto In Coinbase

Bot AI can make crypto transactions on Coinbase. (Photo; Doc. Influentive)

JAKARTA - The crypto industry recorded a new milestone on August 30, when the leading crypto trading platform, Coinbase, managed to record the first transactions made between two artificial intelligence bots (AI). This information was delivered directly by Coinbase CEO Brian Armstrong, via uploads on platform X, formerly known as Twitter.

In this transaction, one big language model or Large Language Model (LLM) uses crypto tokens to purchase AI tokens from other AI bots. These AI bots are designed to perform certain tasks, and this time they make crypto transactions. Even though AI bots don't have bank accounts, they are capable of owning crypto wallets, which allow them to transact with humans, traders, or other AIs.

Armstrong said that this transaction took place instantly, globally, and free of charge. However, he also admitted that even though AI agents have been programmed to complete certain tasks, until now these technologies still face many obstacles. When given a task that takes several hours or even a few days, AI agents often fail to complete it well. Armstrong considered that the limitations of this technology are the main challenges that must be overcome.

A number of companies, such as Devin AI, are working to improve the capabilities of AI agents. However, according to Armstrong, there are still many things that need to be improved, especially regarding AI's ability to make financial transactions. For example, when asked to order plane tickets, AI agents often fail because they don't have payment methods, such as credit cards. It also prevents them from promoting on social media.

Nevertheless, Armstrong is optimistic that AI capable of making financial transactions will be a major breakthrough, especially for businesses that can use AI to accelerate the checkout process on e-commerce platforms. This innovation has the potential to change the way we transact and interact with technology.

Coinbase is not the only company engaged in this field. Earlier this month, blockchain development company Skyfire announced the launch of a payment platform that would allow AI to make transactions. Meanwhile, in June, Web3 infrastructure company Biconomy began integrating AI bots that can run trading activity, allowing users to delegate on-chain transactions to AI agents.