This chapter explores the challenges faced by AI companies when accepting Bitcoin on their balance sheets and introduces Lightning Labs' framework that enables AI agents to hold Bitcoin balance and interact with token-gated payment systems for greater autonomy. It discusses the use of intermediaries, stable assets, and real-world examples of using Bitcoin payments in AI applications.
Since inception, ARK has researched and published thoughts on the cryptocurrency ecosystem within Big Ideas and through articles, whitepapers, monthly Bitcoin reports and podcasts. Now, in coordination with Bitcoin Park, ARK is pleased to introduce a monthly conversation with leaders in the Bitcoin space, to discuss everything happening in the rapidly-changing and still nascent Bitcoin ecosystem. Published through the For Your innovation podcast channels, this monthly series aims to be informative and enlightening, including experts with diverse viewpoints.
Guests on this month’s Bitcoin Brainstorm include:
Paul Itoi – CEO, Stakwork
Laolu (Roasbeef) Osuntokun – CTO and Co-founder, Lighting Labs
Kody Low – Head of Developer and Product Support, Fedi
Rod Roudi – Co-Founder, Bitcoin Park
Cathie Wood – CEO, CIO and Founder, ARK Invest
Yassine Elmandjra – Crypto Lead, ARK Invest
Frank Downing – Nex Gen Internet Director of Research, ARK Invest
Key Points From This Episode:
- 00:00:00 Intro to the Bitcoin Brainstorm with Yassine and Rod
- 00:02:39 Introduction to this month’s guests
- 00:04:10 Cathie Wood explains the impact and importance of the convergence between and among technologies
- 00:12:32 Paul discusses how AI has revolutionized coding and computer engineering
- 00:19:40 Kody applies the coding revolution to Bitcoin and explores how Bitcoin and AI are converging
- 00:26:42 Cathie and Laulu discuss Lightning HTTP 402 Protocol (L402) and internet payment flow generally
- 00:30:24 Frank and Paul explain that Bitcoin could be useful as money because it cuts out traditional intermediaries in payment processing and could decrease counter-party risk
- 00:39:00 What are some of the use cases of micro-payments and how do they compare to larger payments like monthly subscriptions
- 00:51:27 Kody explains why the first rendition of L402 used special cookies know as macarons
- 00:53:16 Frank and Laolu discuss the constraints of ChatGPT and what the potential of AI agents can be outside the walls of a chat window, if given a budget and proper integration points
- 01:01:30 Through the example of a web development project, Paul describes how Bitcoin and generative artificial intelligence are converging today
- 01:06:55 What does the next generation of knowledge workers look like with micro-payments allowing for more efficient payment allocation?
- 01:14:48 Closing thoughts and remarks on Bitcoin’s unique impact on artificial intelligence today
Important Links Mentioned In This Episode:
