"No Visa Card? No Problem"...The AI Payment Era, Who is the Real Owner of My Bank Account?

▲ Artificial Intelligence (AI), Stablecoin, Cryptocurrency Payment/AI Generated Image

As the era of the machine economy arrives, where Artificial Intelligence (AI) agents autonomously make payments and transactions without human intervention, virtual assets have finally reached a historical turning point to prove their reason for existence.

Louis Raskin, host of the cryptocurrency-focused YouTube channel Coin Bureau, analyzed in a video released on April 30 (local time) that the autonomous AI agent-specific payment systems introduced by Stripe and Coinbase will overcome the limitations of traditional finance and create a new market worth $1.7 trillion. Existing financial systems cannot handle the instant settlements and micropayments required by AI agents, leading virtual assets to emerge as the sole solution.

Currently, AI agents face difficulties using traditional payment networks due to credit card fees and complex KYC procedures. Louis explained that to solve these problems, Coinbase introduced the X42 standard, which revives the HTTP 402 code, an early design of the internet. This system, with participation from Google, Amazon Web Services, and Visa, is establishing itself as a formal financial infrastructure.

The benefits of the machine economy are expected to be concentrated on specific networks with technological strengths. Solana (SOL) processed 25.3 billion transactions in the first quarter alone, securing stablecoin liquidity that surpasses Ethereum (ETH). Coinbase's Layer 2 network, Base, also dominates 90% of the X42 system's settlement volume, leading an AI agent-friendly environment.

However, the centralized control over stablecoins, a core asset of the machine economy, is identified as a challenge that needs to be addressed. Tether and Circle have the authority to freeze wallets at the code level and recently froze USDT worth $344 million. Louis pointed out that "the most open networks are being built on the most controlled assets," warning of the risk that agent transactions could be unexpectedly paralyzed.

If AI agents take the lead in financial activities, humans could be relegated to observers in their own economic lives. Forrester predicts that human visits to banking websites will decrease by 20% by the end of this year, while machine-driven traffic will increase by 40%. As the movement of funds beyond human control becomes commonplace, discussions surrounding financial sovereignty and data privacy are expected to accelerate.

*Disclaimer: This article is for informational purposes only and does not take responsibility for investment losses based on it. The content should be interpreted for informational purposes only.*