In a new report, Fuda Digital Assets cautioned that AI proxys would not necessarily bring down value of the same size to the public chain, even if they produced a large amount of online activity in the future. The report lists this as one of the main risks to AI and encrypted narratives.

A closed platform may take over more AI activities

The report suggests that closed systems operated by large technology companies and financial science and technology platforms may be more advantageous in terms of performance, cost, user experience and clarity of compliance. If AI agents mainly remain in these systems, real demand from the public chain may be lower than expected in some markets.

This means that the market judgement that AI agents will rely extensively on the chain for payment, identification and settlement does not necessarily translate to the public chain level as expected. Fuda does not deny that AI will use block chains, but questions how much economic benefits these uses will ultimately leave to the bottom-up network and the original coin.

XRP Ledger has started the payment match.

Some networks are already preparing for this. For example, XRP Ledger has entered the x402 payment standard to allow AI agents to use XRP and RLUSD to pay for services. Such attempts indicate that the chain payment infrastructure is actively seeking to land AI applications.

Trade growth does not necessarily translate into token gains.

Fuda points out that even if the AI-enabled chain pays for growth, the revenues do not necessarily flow to the bottom of the public chain. In the case of stable currencies, for example, when the volume of transactions increases, more economic benefits may be obtained by the issuer and service provider of the stable currency, rather than by the base block chain itself.

It is also mentioned that AI may further reduce the cost of software development and reduce technical differences between different networks. In this environment, mobility, distribution capacity, security and user trust may be more important than purely technical characteristics.

  • Fuda identified value capture as one of the key risks
  • Stabilizing the growth of currency transactions does not necessarily push down the bottom chain.
  • AI may also lower the threshold for identifying loopholes and developing attack codes.

ETH, SOL, WLD and TAO

Zach Pandl, director of greyscale studies, gave a more positive view than Fuda's cautious judgment. He recently named the Taifung, Solana, Worldcoin and Bittensor, and believes that these networks are expected to benefit from AI's expansion in the fields of proxy finance, verifiable records and decentrization of AI.

At the heart of this optimism lies the fact that autonomous software may require programmable currency and a 24-hour infrastructure that is not designed for traditional financial systems. The Fuda report emphasizes, however, that it is not really AI agents who will use block chains, but rather the extent to which the public chain and the original tokens will ultimately be valued.