In this episode of Unchained, host Laura Shin interviews Erik Reppel from Coinbase Developer Platform and Sam Ragsdale, CEO of Merit Systems, about x402, an open protocol for internet-native payments. They discuss the history of the 402 HTTP status code, the need for a standard way to move value across the internet, especially for AI agents, and how x402 addresses this. They explain how x402 differs from existing payment systems by providing a standardized and simplified developer experience, enabling microtransactions, and offering benefits like no chargebacks. They also explore potential future applications of x402, such as AI agents making small transactions for better decision-making and new revenue streams for news sites through usage-based pricing. They touch on the role of stablecoins, the importance of chain-agnosticism, and the ongoing efforts to establish x402 as an open and neutral standard governed by a foundation. The episode also covers existing apps being built using x402, including meme coin projects, crypto search tools, AI resources, and innovative services like shirt.sh, which prints news-related images on t-shirts. Finally, they address the challenges of preventing spam and scams with AI agents and the need for reputation and discovery standards. The episode concludes with a news recap covering topics such as Uniswap's fee switch proposal, Coinbase's new token sales platform, and China's allegations about the U.S. seizing Bitcoin.
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