Coinbase has launched an ambitious initiative, introducing an artificial intelligence accelerator grant program designed to merge AI with cryptocurrency wallets. This program will offer $3,000 grants to five selected projects that explore the potential of AI-driven crypto wallets.
Brian Armstrong, Coinbase’s CEO, emphasized the potential of large language models (LLMs), such as those behind AI systems like ChatGPT and Anthropic’s Claude, to perform financial tasks if equipped with crypto wallets. In a recent tweet, Armstrong stated, “LLMs should have crypto wallets. Let’s help AI agents get work done (on your behalf) and participate in the economy.”
Coinbase’s engineering lead, Yuga Cohler, provided a demonstration of the “AI Wallets” concept on X (formerly Twitter), showcasing how AI could autonomously handle transactions. In the demo, participants were paid for selecting the best image in a set, with payments automatically sent to their cryptocurrency wallets. This concept is reminiscent of platforms like Amazon’s Mechanical Turk, where users are compensated for completing simple tasks.
Coinbase’s Developer Platform is supporting this vision by offering a $15,000 accelerator grant program, encouraging developers to create AI bots that integrate with Coinbase’s MPC wallets. The initiative aims to tackle challenges in AI and finance, particularly enabling AI agents to autonomously manage payments. Developers interested in participating have until September 5 to apply.
Coinbase has also highlighted the intersection of AI and blockchain as a significant opportunity for innovation. In a research report released last June, the company discussed the potential for these technologies to collaborate on solving societal challenges posed by AI. Potential use cases include decentralized data marketplaces, token-based incentive mechanisms, and improving the transparency and auditability of AI algorithms.
The report also suggested that combining AI and blockchain could address issues like algorithmic bias, digital identity verification, and disinformation risks, with blockchain technology offering ways to enhance data authenticity and the transparency of AI decision-making processes.
Powered by Crypto Expert BD
Follow us on Twitter: https://x.com/CryptoExpert_BD
Join our Telegram channel: https://t.me/CryptoExpert_BD
