The combination of AI and cryptocurrency, Coinbase promotes new accelerator program
With the rise of artificial intelligence (AI) platforms such as ChatGPT, the intersection between AI and cryptocurrency has become a hot topic. Coinbase co-founder and CEO Brian Armstrong shared some views on the future development of AI and cryptocurrency yesterday (8/17). He mentioned:
By combining large language models (LLMs) with cryptocurrency wallets, a whole new world can be created in which AI agents will be able to complete tasks on behalf of users and participate in cryptoeconomic activities, such as cryptocurrency trading and market trends. Analysis etc.
Source: X Brian Armstrong believes that by combining LLM with cryptocurrency wallets, a whole new world can be created
Coinbase launches AI developer accelerator program
To accelerate this vision, Coinbase announced its new AI Developer Accelerator Program. According to Coinbase’s official blog, the program is designed to encourage developers to leverage Coinbase’s multi-party computation (MPC) wallet to build AI bots and participate in competitions to win $15,000 in prizes. Five selected projects from the program will each receive $3,000 in funding to explore innovative ways to combine large-scale language models with cryptocurrency wallets.
According to Coinbase, these AI agents can use MPC wallets to make and receive $USDC payments, and these transactions will be fee-free on the Base platform. The blog also notes that users can even earn on their $USDC wallet balance. This move symbolizes Coinbase’s attempt to establish a deeper connection between artificial intelligence and the encryption and blockchain industries, and it is expected that these AI agents will have the potential to subvert the trading experience while attracting millions of new users to the crypto world.
Expanding the economic applications of AI
Coinbase engineering lead Yuga Cohler showed off a demo of the "AI Wallet" feature on social platform X, showing the potential of how AI systems can automate cryptocurrency payments through simple tasks. In this demo, users are asked to choose the best image out of three, and upon completing the task, the AI system automatically sends the payment to their cryptocurrency wallet. This use case is similar to Amazon’s Mechanical Turk, but with the innovation of crypto payments managed directly by AI.
Image source: Yuga Cohler Yuga Cohler shows possible application scenarios of AI wallets
In his post, Brian Armstrong emphasized the importance of this fusion of encryption and AI, and revealed that the applications of AI may extend beyond the encryption industry. He predicts that in the future, every checkout experience will support AI agents making purchases, a change that could come soon.
What’s ahead for Coinbase
Coinbase's accelerator program not only aims to solve challenges in the development of AI applications, such as the inability of AI agents to hold traditional bank accounts and conduct automated financial transactions, but also hopes to open up the use of AI in the economic industry by putting these activities on the chain. new possibilities. Developers can submit their proposals before September 5 to participate in this program and explore the potential of AI-driven economic applications, paving the way for AI systems to autonomously manage and execute financial transactions within the blockchain ecosystem.
With Coinbase’s active participation, the interaction between AI and cryptocurrency may set off a new wave in the next few years, bringing more innovation and opportunities to both industries.
