Crypto is required for agents enabled by artificial intelligence to work effectively in the financial market, as the infrastructure for the traditional financial system is obsolete, says John D’Angostino, the head of institutional approach to coinbase.
If Ai agents will operate on behalf of the people, then they need to work with the “true source of information,” because it would be “harmful if they didn’t,” d’gostino said CNBC’s Squawk Box on Tuesday.
“Artificial intelligence is endlessly measured intelligence, and if you think of the blockchain, which is the underlying crypto technology, as an infinitely measured source of reality, then those two things work well,” he said.
AI agents are already widespread throughout the crypto and are used to develop web3 applications, launch tokens, and interact with services and autonomy protocols, with several platforms Exploring the use of AI agents For trading.
AI agents need faster money
D’Angostino told CNBC that traditional financial systems were not designed for real-time, machine-to-machine scale transactions, and asked AI agents to operate on “100-year-old financial railroads” while scaling for use would not work.
“If we move to this world and have a wonderful advantage of agents that are acting endlessly fast, they need to act forever fast and measured railroads. And that’s what blockchain and crypto are,” he said.
“You will not try to stream a movie to a dial-up modem. You will not ask AI agents to transact with a financial system older than those modems.”
There is no point in Bitcoin compared to the gold debate
D’Angostino added that Bitcoin’s performance (BTC) Kamag -child in gold became frequent The topic was also discussed, but in his view, the two should not be compared because Bitcoin has gold characteristics are not.
Bitcoin is “Programmable. It’s digital. It’s endlessly measured in terms of movement. It’s easy to move. You don’t have
“If you are one of those people who truly cares that the global currency supply is growing like 7%, 8% a year, and that is, if you believe that is too much and it causes inflation, you need to defeat that.”
D’Angostino added that he also went to Bitcoin because of some trillion dollars in money markets, which parked when interest rates in the US were 5% to try and defeat inflation rates.
“While rates are getting, which will open those possessions. Now, all of this does not flow into the properties like Bitcoin, but one part is,” he said.
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The Federal Reserve Slashed rate for the first time This year on September 17, with more possible on the way, though JPMorgan CEO Jamie Dimon doubts more rates, and said last week he thinks the fed will have difficulty cutting interest rates unless inflation decreases.
Institutions are not “lemmings running on a cliff”
D’Angostino also expressed doubts about an incoming institutional wave of crypto adoption, which has been predicted to be a major driver of the market.
Institutions are operates in spaceAnd more is probably along the way, but it’s not likely to be a giant overnight shift, according to D’Angostino.
“Everyone talks about the waves of this institutional, in my experience of dealing with the pensions and endowments and funds of the sovereignty of sovereignty. They have not invested in the waves,” he said.
“They are not lemmings running on a ravine in some giant waves. They are very careful. They are very thoughtful.”
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