AI Agents: The New Bankers
Posted September 06, 2024
Chris Campbell
Contrary to popular thought: AI and crypto are not wildly different technologies.
In fact, there’s a better way to think about them: They’re part of the same exact technology stack.
Some people have caught onto this. Most people haven’t:
But it’s one reason investment firms like Bitwise and VanEck predict that AI and crypto could add up to $20 trillion to the global economy by 2030.
Our long-term thesis in our Early Stage Crypto Investor portfolio is simple:
As these technologies mature, the financial infrastructure for AI will likely shift from traditional systems to decentralized networks.
Two recent news stories are showing us early signs of this trend. Not only that, they’re showing us that new tools are coming online to accelerate it.
For example, Coinbase just made headlines by reporting its first-ever AI-to-AI crypto transaction.
In this case, two AI systems exchanged information, with one crawling the web for data and the other paying for that data using cryptocurrency.
One small leap for AI agents, one giant stride for the future of finance.
More on that - and a game you can play now - in a moment.
First, a housekeeping note: Matt Insley, our executive publisher here at Paradigm Press has seen thousands of recommendations over the course of his career.
After almost 20 years in the biz…
This is the first time he’s put $100,000 of his own money into a single stock idea.
- It’s an idea James is MOST excited about right now.
- It has to do with the acceleration of AI
- It represents almost everything we talk about here in ALC
Matt just recorded a 2-minute video to explain everything you need to know. It’s crucial you see this short clip before September 9th at 1:00 PM.
You’ll see why right here. (Before it’s too late.)
AI Can’t Get a Bank Account
According to Nemil Dalal, product lead for Coinbase Developer Platform, crypto’s programmable nature is ideal for AI.
With smart contracts, you can set conditions like “if this happens, then do that.” This is great for automating tasks, which is what AI does best.
Also, AI systems can’t exactly walk into a bank and open an account.
But they can use crypto wallets.
Crypto lets AI systems make payments, hold value, and even trade services without needing a traditional bank.
Moreover, says Dalal, "Crypto allows AI to make micro-payments and handle transactions at a scale that traditional banking can’t match."
The short of it:
AI is becoming more advanced. And it’s becoming capable of doing tasks that involve value exchange.
Think of an AI that gathers information, pays for services like cloud storage, or hires freelancers for specific tasks.
The "20 Questions" Game
Thing is…
The tools to create these systems are becoming pretty advanced.
Want to see this tech combo in action? (Warning: In testing stages.)
A developer used a tool called Syndicate to create a simple game of “20 Questions.”
Here’s how it works: If the AI guesses the word you’re thinking of, it sends you an NFT to your Ethereum wallet.
The craziest thing about this…
Although it’s in testing mode:
Using new tools, the developer built the whole thing in just a few hours by himself. Normally, this would take weeks and require a whole team. But thanks to Syndicate, the process was fast and easy.
While the game itself is simple, the potential is huge.
Imagine AI not just doing tasks for you but managing finances, paying for services, or even running a small business.
With the right safeguards in place, this is more than possible.
The Big Picture
Many people still think of AI and blockchain as two totally separate technologies.
Let them. Their gaps are your opportunity.
As these two worlds continue to merge, we’re going to see more AI systems that can not only perform tasks but also manage money, pay for services, and create real-world value.
It’s happening.
If you want to see the future of AI and crypto for yourself, check out the "20 Questions" game. (Again, it’s in testing mode, so you might catch a glitch.)
It’s a small taste of the huge possibilities ahead for AI and crypto working together.