Crypto will be necessary for agents supplied by artificial intelligence to operate effectively on the financial market, because the infrastructure of the traditional financial system is exceeded, explains John d’Agostino, head of the institutional strategy of Coinbase.
If the AI agents will operate on behalf of the people, then they must operate on “real sources of information”, because it would be “disastrous if they did not do it”, from Agostino said Tuesday, Squawk Box of CNBC.
“Artificial intelligence is an infinitely evolving intelligence, and if you think of blockchain, which is the underlying technology for crypto, as an infinitely evolving source of truth, then these two things work very well together,” he said.
AI agents are already widespread on the crypto and are used to create web3 applications, launch tokens and interact with the services and protocols independently, certain platforms exploring the use of AI agents for trading.
AI agents need faster money
D’AGOSTINO told CNBC that traditional financial systems were not designed for real -time transactions, a large -scale machine machine, and asking the AI agents to operate on 100 -year “financial rails” while doing it the scale for use will not work.
“If we are going to move to this world and have this wonderful advantage of these agents acting at infinitely rapid speeds, they must act on infinitely fast and evolutionary monetary rails. And that’s what blockchain and crypto,” he said.
“You would not try to broadcast a film on a numbering modem.
No Bitcoin debate against Gold
D’Agostino added that Bitcoin’s performance (BTC) compared to gold have also become a frequently discussed subject, but in its opinion, both should not be compared because bitcoin has characteristics The gold does not do so.
Bitcoin is “programmable. It’s digital. It is infinitely evolving in terms of movement. Easy to move. You don’t have to lug it through the borders, and it produces a return, “he said.
“If you are one of the people who are really concerned about the fact that the global money supply increases like 7%, 8% per year, and it is excessive, if you believe that it is excessive and which causes inflation, then you need assets that will beat this.”
D’Agostino added that it was also optimistic about Bitcoin due to the few dollars of dollars on the money market, which were parked when interest rates in the United States were 5% to try to beat the inflation rates.
“As the rates drop, it unlocks these assets. Now, all of this does not flow into assets like Bitcoin, but a party will,” he said.
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The federal reserve reduced the prices for the first time this year on September 17, with more probably on the way, although the CEO of JPMorgan, Jamie Dimon, has doubted more rate drops, and said last week that he thought that the Fed will have trouble reducing the interest rate unless inflation is decreasing.
Institutions are not “lemmings run on a cliff”
D’Agostino has also expressed doubts about an incoming institutional wave of Crypto adoption, which should be a key market on the market.
The institutions operate in space, and others are probably on the way, but it is unlikely that it is a giant night change, according to D’Agostino.
“Everyone talks about this institutional wave, according to my experience in the management of pensions and allocations and sovereign funds. They do not invest in waves,” he said.
“These are not lemmings run on a cliff in a giant wave. They are very, very cautious. They are very thoughtful. ”
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