We're hearing a lot about the Integration of crypto and AI in recent Months and now we're learning that Coinbase has been getting in on the Merging of the two much hyped Technologies reporting its first AI Crypto transaction last week I want to Start off by asking you why executing a Transaction like this was important for Coinbase what was the goal exactly yeah So first of all what I'll say is AI and Crypto is one of the hottest things in The industry and maybe even in the world Right now and I think there are few Reason re why crypto is such a great Ecosystem for AI one is is that you let You allow to program it so you can say If this then this happens which is a Really powerful primitive for AI another Big part of it is that you can set Limits for AI and the third part of it Is that AI often can't have open a bank Account so crypto is a really really Great primitive for them so what I just Say is first we think crypto is going to Be the financial ecosystem and financial Platform for AI then what gets really Interesting is we started with AI and it Was humans interacting with AIS and so You can imagine a world where people are Paying AI you can also see a world where AIS are paying people for example you Need to talk to 20 people to make an Answer and summarize that down for a
Question that you got this could be a Really great examples this is what's Happened so far in the past but going Forward we're also seeing new types of Behavior so Behavior like this is like Skyfire is a platform that's building AI Agents they can basically allow these AI Agents to be able to talk to each other So one AI agent may be super specialized It may be a web crawler it's looking at Certain detailed information on the web And then it's converting that and Sending that to another a agent that Needs it so the really powerful part About this is you have two AI agents They need to communicate with each other And then they need to pay for the Information that one is sending to the Other and crypto is a really powerful Platform for That expanding on what you just said in An article shared on X on Friday Coinbase CEO Brian Armstrong announced That the platform's first AI toai crypto Transaction is an important step to AI Is getting useful work done he noted That while AI agents cannot get bank Accounts like you mentioned they can get Crypto wallets and can now use usdc on The L2 blockchain Network developed by Coinbase called Bas to transact with Humans merchants and other AI agents can You take us through how this transaction Worked exactly and if we can expect to
See more AI crypto transactions now yeah I think we'll absolutely seen many many More crypto and AI transactions and this Specific example we've been working and Talking to Skyfire which is a company That basically makes Financial platforms For AI agents and so what they had was They two different AI agents they needed To be able to one was doing a very Specialized set of things which was Crawling the web and a need talk to Someone else that needed that Information from the web crawling and so These AI agents were able to like Interact with each other transact crypto Between each other the funny part about All this is that what they're Transacting for is tokens which is the Raw information what web crawling is Able to create now Armstrong pointed out That currently AI agents face Limitations in completing tasks Independently because of the lack of Access to traditional Financial tools Like credit cards or payment methods for Services like AWS or GitHub however he Suggested that this new capability could Allow AI to overcome these barriers how Is that possible exactly yeah absolutely First of all it's not easy for an AI to Go walk up to a bank and get an account Um and so as a result crypto is an open We've always talked about crypto as an Open Financial system and AI is able to
Easily be able to access that two is it It talks to it's very easy to talk to Machines in that they're apis that any AI can be able to write um that allow to Talk directly to the blockchain but in Addition to this there's some other Really interesting Primitives here you Can do things like micro payments you Could send just a few cents if that's What you want to be able to do to send To a few users or a few thousand users All of this is not possible with today's Traditional banking system and this is What crypto can allow for the AI um Ecosystem what did this AI crypto Transaction reveal and now that it's out In the open are you seeing demand for Transactions like this we're seeing a Ton of demand for different AI Transactions connected to crypto and Actually we've already had Builder Grants that we have on coinbase Developer platform that we have multiple Many different parties applying for to Be able to try different interactions With crypto and AI we also have example Demo app so if you want to go to AI Wallets demo.com we have an example Where you can cook up a crypto wallet Into your AI bot but we think that like As I mentioned earlier we think there Are three different types of use cases Which is that humans are paying AIS and That's one way in which you can use
Crypto cryp uh AI agents need to be able To pay people to do certain microtasks Or tasks for them as they get summary so As an example I need to be able to Summarize down the uh feedback of 100 Different people I could go reach out to Them each of those 100 people as an AI Agent I could pay them all in crypto and Then I could summarize that back to the Original question that I got and lastly Is this crypto to crypto example which Is that one crypto agent is very very Specialized in one set of tasks but it Needs other information um and so we Think that this is just going to keep Growing and probably all three of those Have a tremendous amount of growth ahead Of them now in that article I referenced Armstrong poses the question how big Will the AI to AI economy be in a few Years from now now the integration of AI And crypto has been getting a lot of Buzz recently in fact in June bitwise Asset Management forecasted that crypto And AI could add a collective 20 Trillion dollars to the global economy By the end of the decade benek also sees The potential of the merging of AI and Crypto in February the global investment Manager released its crypto AI Revenue Predictions forecasting Revenue will Reach 10.2 billion by 2030 in its base Case what's your outlook given you work In both the crypto and AI spaces yeah I
I would just say is that I think it's Going to be very hard to say concrete Numbers we are seeing a tremendous Amount of one activity in this space With tons of different Builders building In Ai and building in crypto which is a Really really good sign and two is that We're seeing real use cases be solved Often in crypto we talk about what are The utility use cases that are coming Next and this is one ecosystem where we Absolutely see utility very very early On so I think I would just candidly say Like like my guess is as good as um Anyone's but I would say most likely That this is going to be a a bigger and Bigger part of our the Industry in a nutshell what is Coinbase's AI strategy so coinbase has An AI strategy all across the board and We're doing everything from AI agents That let you answer customer support Questions to be able to uh be able to Launch an app very quickly with just Asking a few questions and you get a Bunch of different code back those are Different examples I personally SP focus On the coin based developer platform so I really focus on developers and what Are their needs so exactly building Really quickly without having to know All the details of code is one really Good example of that and another really Big part is enabling the tools apis
Wallets nodes that AI wall that AI Agents need to be able to use the crypto Ecosystem now you are in fact the Product lead of the coinbase developer Platform which gives Builders access to Tools and infrastructure available for Build building onchain apps and Integrations what else can people expect From the platform in the near future Yeah we are incredibly bullish first on The crypto industry but I think if I Look at pretty kindly at our industry Blockchain development is hard it can be Painful there's security risk to be Worried about can take time to build Versus other parts of the um programming Landscape and so really our goal really This is coin Miss's Vision in general is To make things really simple you see That in our trading apps but you also See that in our developer platform two Is to make it trusted so that security And other sets of decisions are Thoughtfully made in our products and Three is that we think there's real Connectivity with different ecosystems Out there for example the base L2 Ecosystem and so in terms of the things That are coming I'll just maybe walk Through two or three examples of what we Have one is um an example called onchain Kit and what onchain kit does is it Makes it matter of minutes you can build An onchain application so for example we
Have these onchain applications D5 Nfts Etc this often take weeks months to Be able to build with onchain kit you Can go in a few lines of code in a few Minutes be able to launch an application That's like one example another example Is just primitive technology that we've Talked about like wallets wallets is one Of the most foundational building blocks In crypto and we offer everything from a Smart wallet which lets end users be Able to access the blockchain ecosystem But it also uh in the onchain ecosystem But we also have things like API wallets That developers can be able to access so So what I'm really excited about is that No matter your skill level whether you Have very little developer experience But you want to build something which There are a lot of people out there Today or if you're really really deep in This but need certain specialized Infrastructure that's what coinbase Developer platform can Provide nil theal product lead of the Coinbase developer platform thank you Very much for your comprehensive insight Into Ai and everything you're doing on The platform thank you so much T it's Been a pleasure to be on
