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The Delphi Podcast

Why do AI agents need crypto for payments? A panel with Nevermind, Skyfire & Coinbase | Crypto x AI Event

Oct 22, 2024
Can Gurel leads a fascinating discussion with Craig DeWitt, co-founder of Skyfire, and Don Gossen, CEO of Nevermind. They delve into why traditional payment systems can't support the needs of AI agents. The trio explores the rise of agent-to-agent commerce and the potential of crypto for instant global transactions. They also address the evolution of shopping experiences, with AI agents personalizing consumer interactions. Security challenges in crypto and the importance of robust safeguards for autonomous payments are also key points in this insightful conversation.
01:27:17

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Quick takeaways

  • Traditional payment systems are inadequate for AI agents due to compliance issues and transaction complexities, necessitating blockchain solutions.
  • The concept of 'Know Your Agent' (KYA) is emerging to enhance transparency and trust in AI transactions amid regulatory challenges.

Deep dives

The Role of AI Agents in the Payment Ecosystem

The emergence of AI agents is fundamentally transforming the payment landscape, as these entities are expected to become major players in commerce by automating transactions. Traditional payment solutions, designed for human use, face limitations when applied to AI agents, mainly due to compliance issues and the complexity of conventional payment systems. In contrast, blockchain technology offers a streamlined and efficient alternative that accommodates the unique needs of AI agents, such as instant settlement and reduced transaction costs. As AI agents proliferate, a new category of 'AI commerce' will evolve, highlighting the necessity for tailored payment solutions to facilitate these digital transactions.

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