John D’Agostino, head of institutional strategy at Coinbase
$2.69B
, stated that cryptocurrencies will play a crucial role in how artificial intelligence (AI) operates in finance.
He argued that current banking systems are too old and slow to support the demands of automated software.
Speaking to CNBC’s Squawk Box on September 30, he explained that AI tools acting for people must rely on information that can be trusted. Without that, the results could be harmful. He compared the scalability of AI with the scalability of blockchain records.
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D’Agostino noted that today’s financial infrastructure was never built for instant, automated transactions at a global scale. He explained:
You wouldn’t try to stream a movie on a dial-up modem. You wouldn’t ask these AI agents to transact with a financial system that’s older than those modems.
According to D’Agostino, blockchain and crypto provide the fast and flexible rails needed for AI systems to transfer money at machine speed.
The conversation also touched on Bitcoin’s
For those concerned about the constant growth of global money supply, he sees Bitcoin as an option that can outpace inflation.
Recently, Coinbase has expanded its use of AI to improve the development of its products. How? Read the full story.
