Tether and Coinbase Unveil AI Tools for Private Blockchain Apps and Autonomous On-Chain Actions

At the Lugano Plan ₿ conference, Tether’s CEO Paolo Ardoino announced the Local AI Development Kit, a modular software development kit (SDK) for decentralized and private peer-to-peer (P2P) AI applications.

This is a big step for privacy in the AI and blockchain space. With this technology, developers can build private AI applications on any device. From low cost smartphones to mainframes.

The SDK is built on Bare, an open source, lightweight JavaScript runtime like Node.js, so you can do asynchronous and event driven programming.

Bare’s architecture allows the applications built on Tether’s SDK to run on any device, so it’s very versatile and easy to deploy. The Local AI kit supports multiple AI models, including Marian and Llama, so you can tailor the applications to different tasks.

Tether will release this as open source software so you can build scalable, private AI applications that run entirely on device, without any cloud dependencies.

Coinbase’s Based Agent: Autonomous Onchain Functionality

Coinbase has been working on bringing AI to blockchain with its Based Agent. Introduced by Coinbase product developer Lincoln Murr, Based Agent lets you build onchain agents in minutes on the Base blockchain. Seamless setup, it integrates with Coinbase Developer Platform (CDP) and OpenAI, and is hosted on Replit.

You just need API keys from Coinbase and OpenAI, and a Replit template, to build autonomous agents that can perform various blockchain tasks without supervision. Once set up, Based Agent can create ERC20 tokens, deploy NFTs, transfer assets and generate art with OpenAI’s DALL-E—all autonomously.

For non technical users, this tool makes blockchain easy by automating transactions and smart contract interactions. The agent runs autonomously, executing tasks every 10 seconds based on predefined rules, so it’s perfect for testing experimental applications in a real blockchain environment.

The Intersection of AI and Blockchain: A New Horizon

Tether and Coinbase’s latest moves show the growing intersection of AI and blockchain. Tether’s Local AI kit is about private AI within decentralized networks and Coinbase’s Based Agent is about AI for onchain functionality.

Together these are big steps towards a future where AI agents interact seamlessly in blockchain ecosystems and we have automation and data privacy.

As Tether and Coinbase move forward with this, AI blockchain is getting bigger. With open source tools, more security and onchain autonomy, this will change the way developers, businesses and users interact in the digital world.

Will these tools be widely adopted? We’ll see. But the impact on decentralized systems is clear.

Key Takeaways:

• Tether’s Local AI kit prioritizes privacy with P2P infrastructure and multi-device compatibility.
• Coinbase’s Based Agent enables quick creation of autonomous blockchain agents on Base.
• Both tools signify growing integration of AI in blockchain, emphasizing privacy and automation.