A major development in the connection between crypto and fiat has been made.
During his speech at the BlockShow Asia 201, Ben Goertzel – Chief Scientist and head of decentralized AI marketplace SingularityNET – has revealed the new facilitating feature for conventional PayPal transactions, in an attempt to provide support for AGI tokens-focused transactional activities.
“We’re excited about this. It opens the door for new ways to promote and grow the network,” Goertzel remarked.
The initiative has made the pool of 286 million users of Paypal accessible to SingularityNET. Previously, the marketplace charged customers a specific fee for its A.I services, provided by by AI agents in the network using the AGI utility token. However, with the new support feature for conventional PayPal integration rolled out, no prior interactions or experience with digital coins are needed to interact with the platform.
The backend technology is in charge of the conversion process of fiat PayPal transactions into AGI utility tokens – which will then be used to pay for the agents providing A.I services on SingularityNET. The entire process will be hidden from the frontend interface, which frees the users from any further connections with the AGI tokens whatsoever.
The customer’s only job is to pay the fee for AI services from an AI agent on the marketplace using PayPal, and use the services they paid for.