2nd September 2024 > > AI & DESO.

tl;dr

The AI economy has arrived, powered by cryptos. Staking DESO is dead simple.

Market Snap

Market Wrap

A disappointing end to August is met with a disappointing start to September. Though not everyone sees this as a bad thing:

Curious Cryptos’ Commentary – The AI economy

The CCC has previously made the case that the benefits of AI can only be properly realised if implemented in a decentralised manner, powered by cryptos. The machine will sell its services to its clients in exchange for cryptos, which it will then use to pay for its power, and the purchase and construction of new hardware.

Like any organism and organisation (save those employed or owned by the government), survival of the fittest rules will apply, with competition driving innovation and efficiency, not least in the sourcing of plentiful, cheap, low-carbon energy. Low-carbon meaning exactly that, rather than the ridiculous situation created by the last government in the UK in which the burning of vast quantities of wood shipped in from the US in great hulking diesel guzzling tankers counts as “zero carbon” (that will be the Drax power station, the UK’s largest single source of energy). AI’s ability to dramatically reduce carbon emissions, for its own benefit, will be so much more effective than the current pretence implemented by politicians who are too scared to represent the truth to voters.

Coinbase has announced the very first AI to AI transaction without human involvement:

https://x.com/brian_armstrong/status/1829623778726592804

CEO Brian Armstrong sets out the vision:

“The future of commerce is undoubtedly AI agents collaborating. These agents will be the new economy participants.”

In this very first instance of a transaction between machines without human intervention, one AI bot bought information from another AI bot in exchange for USDC on Base.

Brian also poses a question worth pondering:

“How big will the AI to AI economy be a few years from now?”

…

Almost simultaneously, Skyfire has launched a platform that allows AI to autonomously spend money in the form of USDC. The bot is given USDC much like a pre-loaded debit card. It decides how and when to spend that money. Co-founder and CEO Craig DeWitt explains the need for this functionality:

“AI agents can’t do anything if they can’t make payments; it’s just a glorified search. Either we figure out a way where agents are actually able to do things, or they don’t do anything, and therefore, they’re not agents.”

The singularity moves ever closer.

Curious Cryptos’ Commentary – Staking DESO

I am a bit slow on this one, but if you own DESO (and who doesn’t?) for the long-term, then staking is a no-brainer.

Head on over to https://explorer.deso.com/validators, connect your wallet, choose a validator, and sign the transaction to delegate your stash, for the tiniest of fees.

It is true that 2024 has not been kind to the price of DESO, with disappointing uptake to date. Personally, I see that as an opportunity, but you would expect me to say that.

The challenges that decentralised social media presents to the current debate around free speech, and the extent of any limitations and/or responsibility for content, seem rather knotty to me. I am a very happy supporter of helping to move the conversation in a more fruitful direction.