BlackRock's latest research report, The Machine-Native Economy, proposes that artificial intelligence and blockchain-based assets could increasingly complement each other as autonomous software agents begin conducting independent transactions.
The world's largest asset manager argues that while AI provides the cognitive capabilities for autonomous decision-making, blockchain-based systems can deliver the transactional framework needed to execute those decisions.
Stablecoins for Automated Transactions
BlackRock identifies payment processing as the most immediate practical application for AI agents. Autonomous systems could automatically compensate providers for datasets, API access, software solutions and computational capacity without requiring human authorization for each transaction.
The firm emphasizes that dollar-backed stablecoins are well-positioned for these operations due to their price consistency and the fact that distributed ledger technology operates continuously. Programmable cryptocurrency systems capable of high-frequency, micro-value exchanges between machines are also highlighted as relevant infrastructure.
The x402 payment protocol demonstrates one real-world example, enabling software entities to compensate for digital resources in real-time. Circle has introduced Agent Stack, providing AI systems with capabilities to hold USDC, identify available services and execute payments through code. According to Circle, over 900 fee-based services had integrated with Agent Stack as of last August, with USDC representing 99.3% of x402 agent-driven transaction volume.
Tokenized Computing Capacity
BlackRock identifies a longer-term possibility centered on AI processing infrastructure. As demand for specialized processors and cloud services grows, enterprises may seek ways to guarantee capacity access, stabilize costs and manage risk exposure.
The firm proposes that rights to computational capacity could eventually be tokenized, transferred between parties, traded on markets or used as loan collateral. AI agents could automatically acquire additional processing resources as operational needs change.
BlackRock referenced analyst projections suggesting combined revenue from major cloud infrastructure divisions at Amazon, Microsoft and Google could approach approximately $1.1 trillion by the end of the decade.
BlackRock emphasizes that a functioning marketplace for standardized computing contracts does not yet exist and that this concept remains in exploratory phases. The firm notes that widespread adoption of these technologies depends on regulatory frameworks, infrastructure maturation, security protocols and whether enterprises adopt blockchain payment systems or enhance conventional financial channels instead.
