Artificial Intelligence (AI) Used by Google and Coinbase to Monetize Fridge Purchases

Artificial Intelligence (AI) Used by Google and Coinbase to Monetize Fridge Purchases

In a groundbreaking move, tech giant Google has announced the launch of an open-source payment standard for Artificial Intelligence (AI) agents. The initiative, known as the Agent Payments Protocol (AP2), is a collaboration with various entities in the payment and commerce industry, including Coinbase, the Ethereum Foundation, and around 60 other payment and trading companies. Notable partners include American Express and Salesforce.

The AP2 protocol is designed to enable communication between AI agents for purposes of payment and commerce. This could potentially revolutionise the way AI agents interact, enabling them to pay bills or purchase items on a user's behalf. Google aims to standardise the rails for future AI-to-AI commerce.

The AP2 protocol is an extension of Google's April Agent2Agent (A2A) protocol. Google has integrated Coinbase's x402, an HTTP-native, instant stablecoin payment standard, into the AP2. This integration allows AI agents to settle transactions via traditional trails and stablecoins.

A demonstration has been shared, showing how Coinbase's x402 and Google's AI can be used for purchasing a refrigerator. The collaboration between Google and Coinbase has been described as unlocking a "new level" by Coinbase CEO Brian Armstrong.

The collaboration does not seem to involve any prior controversies or legal issues, as indicated by the mention of a potential deal with the DOJ (Department of Justice) in relation to Binance. This open-source payment standard by Google is part of a broader collaboration with various entities in the payment and commerce industry.

It is worth noting that the article also includes speculative predictions about the crypto market, but these are not directly related to the main topic of Google's open-source payment standard. The article does not provide specific details about the fees involved in transactions facilitated by this new standard, but it does mention a report about $187 billion in fees related to AI payments.

Google's AP2 initiative is intended to ensure the interoperability of payments, paving the way for a seamless future of AI-to-AI commerce. As AI agents become more prevalent in our daily lives, standardised payment protocols like AP2 could become essential for smooth and secure transactions.

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