[
  {
    "startMs": 1309,
    "text": "[music]"
  },
  {
    "startMs": 12639,
    "text": "Hello all, welcome to uh the agent"
  },
  {
    "startMs": 14799,
    "text": "e-commerce track and uh I'm Anil Lminti."
  },
  {
    "startMs": 17760,
    "text": "I'm a senior solutions architect here at"
  },
  {
    "startMs": 19119,
    "text": "AWS. Uh I'm I'm here to talk to you"
  },
  {
    "startMs": 21840,
    "text": "today about how AWS is innovating and uh"
  },
  {
    "startMs": 25760,
    "text": "how you can build apps on uh AWS to"
  },
  {
    "startMs": 29439,
    "text": "support the agent e-commerce. So uh"
  },
  {
    "startMs": 32079,
    "text": "welcome to the session. Uh just to get"
  },
  {
    "startMs": 34640,
    "text": "you started, let me set the stage with"
  },
  {
    "startMs": 36640,
    "text": "something that you're very familiar"
  },
  {
    "startMs": 37760,
    "text": "with. Uh imagine that you are your"
  },
  {
    "startMs": 40800,
    "text": "organization is building uh a news"
  },
  {
    "startMs": 43840,
    "text": "portal like this, right? So you're all"
  },
  {
    "startMs": 45120,
    "text": "familiar with something where you're"
  },
  {
    "startMs": 46640,
    "text": "accessing the news content and then"
  },
  {
    "startMs": 48719,
    "text": "suddenly you hit a payw wall, right? So"
  },
  {
    "startMs": 50719,
    "text": "this is where uh you pull out your"
  },
  {
    "startMs": 52559,
    "text": "wallet or you try to uh figure out how"
  },
  {
    "startMs": 55039,
    "text": "to make the payments, set up your uh"
  },
  {
    "startMs": 57280,
    "text": "credentials, access keys in the sense"
  },
  {
    "startMs": 59840,
    "text": "that you you make a credit card"
  },
  {
    "startMs": 61280,
    "text": "transaction weekly, monthly or annual"
  },
  {
    "startMs": 63680,
    "text": "subscription and then get started to"
  },
  {
    "startMs": 65680,
    "text": "access the content. Right? So this is"
  },
  {
    "startMs": 66960,
    "text": "all the content that is behind a payw"
  },
  {
    "startMs": 68240,
    "text": "wall. But uh what we see now is that uh"
  },
  {
    "startMs": 71520,
    "text": "much of the traffic that is actually"
  },
  {
    "startMs": 73600,
    "text": "being uh sent to these uh uh portals now"
  },
  {
    "startMs": 76240,
    "text": "on the internet is all coming from bots."
  },
  {
    "startMs": 78479,
    "text": "We see that we at a infliction point"
  },
  {
    "startMs": 80320,
    "text": "where uh the bot traffic is more than"
  },
  {
    "startMs": 83040,
    "text": "the human traffic right. So it's just uh"
  },
  {
    "startMs": 85520,
    "text": "actually in fact surpassed that and uh"
  },
  {
    "startMs": 88400,
    "text": "95% of that bot traffic is coming from"
  },
  {
    "startMs": 90560,
    "text": "AI agents. So uh essentially we are also"
  },
  {
    "startMs": 95119,
    "text": "looking at the rise of autonomous agents"
  },
  {
    "startMs": 97759,
    "text": "right so where we all started using LLMs"
  },
  {
    "startMs": 101360,
    "text": "asking questions asking for"
  },
  {
    "startMs": 102720,
    "text": "summarization being able to uh get help"
  },
  {
    "startMs": 105360,
    "text": "with using them as co-pilots getting"
  },
  {
    "startMs": 107920,
    "text": "them to do agentic work to uh do"
  },
  {
    "startMs": 109840,
    "text": "multi-step tasks and now we're in the"
  },
  {
    "startMs": 111840,
    "text": "phase of autonomous agents where agents"
  },
  {
    "startMs": 114399,
    "text": "are using the reasoning powers of large"
  },
  {
    "startMs": 116479,
    "text": "language models to complete a task and"
  },
  {
    "startMs": 118560,
    "text": "completing a task means that uh it it"
  },
  {
    "startMs": 120799,
    "text": "has to go do whatever you're asking it"
  },
  {
    "startMs": 123200,
    "text": "to do. And that's kind of where we are"
  },
  {
    "startMs": 124640,
    "text": "in the uh journey. And we see that by"
  },
  {
    "startMs": 127920,
    "text": "2027 about a billion agents will be"
  },
  {
    "startMs": 130560,
    "text": "running uh performing tasks and 60% of"
  },
  {
    "startMs": 133360,
    "text": "the enterprises will already be uh using"
  },
  {
    "startMs": 135200,
    "text": "agentic workflows. So uh what happens"
  },
  {
    "startMs": 138319,
    "text": "when agents hit these pay walls that uh"
  },
  {
    "startMs": 140400,
    "text": "we just saw? When agents hit the pay"
  },
  {
    "startMs": 142800,
    "text": "walls, they stall, they can't operate"
  },
  {
    "startMs": 144560,
    "text": "and you see those messages that hey I"
  },
  {
    "startMs": 146560,
    "text": "cannot access content. Uh right? So at"
  },
  {
    "startMs": 148879,
    "text": "that point humans get in the loop. They"
  },
  {
    "startMs": 151440,
    "text": "try to enter and put the credit card"
  },
  {
    "startMs": 154080,
    "text": "details or API keys do the transactions"
  },
  {
    "startMs": 157120,
    "text": "for the AI agents. But all of that is"
  },
  {
    "startMs": 159360,
    "text": "manual friction, right? So essentially"
  },
  {
    "startMs": 161120,
    "text": "bringing in a human in the loop. So"
  },
  {
    "startMs": 163040,
    "text": "autonom autonomous agents actually break"
  },
  {
    "startMs": 165061,
    "text": "[clears throat] at that point where the"
  },
  {
    "startMs": 167200,
    "text": "uh friction is now building up. So uh"
  },
  {
    "startMs": 170959,
    "text": "now sellers of the content have uh you"
  },
  {
    "startMs": 173280,
    "text": "know couple of options right. So block"
  },
  {
    "startMs": 175040,
    "text": "all the bot traffic but by blocking all"
  },
  {
    "startMs": 177599,
    "text": "the traffic they lose this AI powered"
  },
  {
    "startMs": 179760,
    "text": "discovery they miss this uh partnership"
  },
  {
    "startMs": 182560,
    "text": "licensing options and AI also now"
  },
  {
    "startMs": 186000,
    "text": "supports citations right so the"
  },
  {
    "startMs": 187440,
    "text": "responses so they lose all of that uh"
  },
  {
    "startMs": 189360,
    "text": "powered citations as well if they can't"
  },
  {
    "startMs": 190959,
    "text": "sell the content essentially they lose"
  },
  {
    "startMs": 193280,
    "text": "uh revenue generating options and if you"
  },
  {
    "startMs": 195760,
    "text": "allow the bots to access those uh uh the"
  },
  {
    "startMs": 198080,
    "text": "content what it means is that you know"
  },
  {
    "startMs": 200480,
    "text": "hundreds of thousands of bots or"
  },
  {
    "startMs": 202080,
    "text": "millions of bots could be hitting your"
  },
  {
    "startMs": 203680,
    "text": "uh uh infrastructure which means that"
  },
  {
    "startMs": 205599,
    "text": "the infrastructure costs will also raise"
  },
  {
    "startMs": 207920,
    "text": "and uh you need to be able to support"
  },
  {
    "startMs": 209519,
    "text": "all of that right so you also uh when"
  },
  {
    "startMs": 211840,
    "text": "you allow bots to access content you"
  },
  {
    "startMs": 213599,
    "text": "lose attribution the IP itself right so"
  },
  {
    "startMs": 215920,
    "text": "because content is now freely available"
  },
  {
    "startMs": 217840,
    "text": "so uh both these decisions are probably"
  },
  {
    "startMs": 221760,
    "text": "not not a good option they're not ideal"
  },
  {
    "startMs": 223760,
    "text": "so there should be another ideal option"
  },
  {
    "startMs": 225840,
    "text": "where uh you would want to have your AI"
  },
  {
    "startMs": 228239,
    "text": "agents being able to get and pay for the"
  },
  {
    "startMs": 230959,
    "text": "content that they are looking for and"
  },
  {
    "startMs": 233040,
    "text": "monetize on"
  },
  {
    "startMs": 234400,
    "text": "So uh now we look at the next phase of"
  },
  {
    "startMs": 237280,
    "text": "uh uh rise in autonomous agents where"
  },
  {
    "startMs": 240319,
    "text": "agents should be able to transact and"
  },
  {
    "startMs": 242319,
    "text": "make uh discover other agents resources"
  },
  {
    "startMs": 245200,
    "text": "and essentially make payments. Right? So"
  },
  {
    "startMs": 247280,
    "text": "this is the definition of agent"
  },
  {
    "startMs": 248400,
    "text": "e-commerce where AI agents can"
  },
  {
    "startMs": 250480,
    "text": "essentially discover uh you know it's a"
  },
  {
    "startMs": 252799,
    "text": "form of e-commerce where autonomous"
  },
  {
    "startMs": 254720,
    "text": "agents can uh discover independently and"
  },
  {
    "startMs": 256880,
    "text": "make those uh uh settlements and then"
  },
  {
    "startMs": 258720,
    "text": "access content. So let's look at uh the"
  },
  {
    "startMs": 262000,
    "text": "agent e-commerce the two sides of agent"
  },
  {
    "startMs": 263919,
    "text": "e-commerce the buy side and the sell"
  },
  {
    "startMs": 265520,
    "text": "side. So uh when we talk about the buy"
  },
  {
    "startMs": 267919,
    "text": "side the agents are making these"
  },
  {
    "startMs": 269440,
    "text": "transactions and on the sell side the"
  },
  {
    "startMs": 271680,
    "text": "sellers of the content are trying to"
  },
  {
    "startMs": 273759,
    "text": "monetize on the content. So on the buy"
  },
  {
    "startMs": 275759,
    "text": "side when you look at things AI agents"
  },
  {
    "startMs": 277520,
    "text": "want to access these premium paywalled"
  },
  {
    "startMs": 279040,
    "text": "content licensed content they want to be"
  },
  {
    "startMs": 281199,
    "text": "able to hold wallets which they do not"
  },
  {
    "startMs": 283440,
    "text": "have the option today and they want to"
  },
  {
    "startMs": 285440,
    "text": "be able to make these microtransactions"
  },
  {
    "startMs": 286960,
    "text": "you just heard in the prior talk as"
  },
  {
    "startMs": 288400,
    "text": "well. But enterprises when they come to"
  },
  {
    "startMs": 290639,
    "text": "this point they want more guardrails and"
  },
  {
    "startMs": 292639,
    "text": "they do not want agents to go on"
  },
  {
    "startMs": 294160,
    "text": "spending spree. Think about it right?"
  },
  {
    "startMs": 296000,
    "text": "Would you allow your AI agents to get"
  },
  {
    "startMs": 297440,
    "text": "handled on your wallets or credit cards"
  },
  {
    "startMs": 299680,
    "text": "to be able to do that transactions and"
  },
  {
    "startMs": 301840,
    "text": "where they could go rogue as well right?"
  },
  {
    "startMs": 303280,
    "text": "So that's what the buyer side is looking"
  },
  {
    "startMs": 305199,
    "text": "at. And on the seller side uh the there"
  },
  {
    "startMs": 308080,
    "text": "are again billions of transactions that"
  },
  {
    "startMs": 310080,
    "text": "be happening with these AI bots. So"
  },
  {
    "startMs": 311840,
    "text": "sellers really want to be able to"
  },
  {
    "startMs": 313440,
    "text": "understand what kinds of bots are"
  },
  {
    "startMs": 315039,
    "text": "operating uh what kinds of transactions"
  },
  {
    "startMs": 317199,
    "text": "they're making and uh really uh do this"
  },
  {
    "startMs": 320160,
    "text": "at the edge. The sellers don't want to"
  },
  {
    "startMs": 322400,
    "text": "change their entire infrastructure and"
  },
  {
    "startMs": 324160,
    "text": "origins where the content is sitting."
  },
  {
    "startMs": 326400,
    "text": "They want to be able to do this at the"
  },
  {
    "startMs": 327759,
    "text": "edge without changing much of this."
  },
  {
    "startMs": 329680,
    "text": "Right? So there is again uh one common"
  },
  {
    "startMs": 332080,
    "text": "thing here on the buyer side and the"
  },
  {
    "startMs": 333600,
    "text": "seller side which is a standardized"
  },
  {
    "startMs": 335280,
    "text": "approach or a protocol to be able to"
  },
  {
    "startMs": 336880,
    "text": "solve for this uh machine to machine"
  },
  {
    "startMs": 338800,
    "text": "payments at the edge. So uh bottom line"
  },
  {
    "startMs": 341039,
    "text": "buyers are saying that they want their"
  },
  {
    "startMs": 342880,
    "text": "agents to be able to pay for content uh"
  },
  {
    "startMs": 345280,
    "text": "and uh not have humans approving this"
  },
  {
    "startMs": 348080,
    "text": "and then the sellers are saying that"
  },
  {
    "startMs": 349680,
    "text": "they want to be able to earn from the AI"
  },
  {
    "startMs": 351600,
    "text": "traffic. So bottom line the subscription"
  },
  {
    "startMs": 354639,
    "text": "model is going to change with humans in"
  },
  {
    "startMs": 356720,
    "text": "the loop to becoming humans on the loop"
  },
  {
    "startMs": 359120,
    "text": "or out of the loop and that's kind of"
  },
  {
    "startMs": 361440,
    "text": "what we are building towards. uh the the"
  },
  {
    "startMs": 363919,
    "text": "traditional one-sizefits model does not"
  },
  {
    "startMs": 366000,
    "text": "work anymore because of the fact that uh"
  },
  {
    "startMs": 368240,
    "text": "again we look at that in the next slide"
  },
  {
    "startMs": 370000,
    "text": "where uh the transactions cost will not"
  },
  {
    "startMs": 372319,
    "text": "really work right all of this needs to"
  },
  {
    "startMs": 374240,
    "text": "happening at realtime speed and the"
  },
  {
    "startMs": 377360,
    "text": "paper use and paper execution is what"
  },
  {
    "startMs": 379440,
    "text": "the f future is going to look like so if"
  },
  {
    "startMs": 382000,
    "text": "you're a seller you would have come"
  },
  {
    "startMs": 383199,
    "text": "across this right so there is a 25 cent"
  },
  {
    "startMs": 385440,
    "text": "minimum transaction fees as well as 2.5%"
  },
  {
    "startMs": 389680,
    "text": "on top of that and all of these"
  },
  {
    "startMs": 391039,
    "text": "microtransactions are uh you know in the"
  },
  {
    "startMs": 393680,
    "text": "in in like a cent subsend or you know"
  },
  {
    "startMs": 396560,
    "text": "micro cents is what we are calling them."
  },
  {
    "startMs": 398319,
    "text": "So if you add like a 25 cents on top of"
  },
  {
    "startMs": 400319,
    "text": "that it's essentially like 250 times to"
  },
  {
    "startMs": 402960,
    "text": "what you know they are essentially"
  },
  {
    "startMs": 404560,
    "text": "paying for. So the all of this model"
  },
  {
    "startMs": 406240,
    "text": "does not work and uh while we are trying"
  },
  {
    "startMs": 409039,
    "text": "to solve for that a very brief history"
  },
  {
    "startMs": 410800,
    "text": "uh of this is every HTTP call"
  },
  {
    "startMs": 413039,
    "text": "essentially responds back uh you know"
  },
  {
    "startMs": 414639,
    "text": "there's a response for that you've seen"
  },
  {
    "startMs": 416319,
    "text": "200 status codes 404 uh you know and the"
  },
  {
    "startMs": 419840,
    "text": "301 these are all like status codes that"
  },
  {
    "startMs": 421919,
    "text": "you're familiar with and then there is"
  },
  {
    "startMs": 423440,
    "text": "one status code which is 402 which has"
  },
  {
    "startMs": 425840,
    "text": "uh not been used it was reserved for"
  },
  {
    "startMs": 427919,
    "text": "payment required and now finally uh"
  },
  {
    "startMs": 430400,
    "text": "Coinbase has introduced this uh as uh"
  },
  {
    "startMs": 433120,
    "text": "transactions over 402 which is also"
  },
  {
    "startMs": 435039,
    "text": "called as X42 where they uh you know the"
  },
  {
    "startMs": 437919,
    "text": "protocol talks about how you can do"
  },
  {
    "startMs": 439680,
    "text": "machine to-achine transactions uh using"
  },
  {
    "startMs": 441919,
    "text": "this protocol right so we'll take a"
  },
  {
    "startMs": 443280,
    "text": "closer look at that but uh what happens"
  },
  {
    "startMs": 445360,
    "text": "within the protocol is uh you know if"
  },
  {
    "startMs": 447280,
    "text": "you look at this uh flowchart here a"
  },
  {
    "startMs": 449440,
    "text": "client makes a request to the server and"
  },
  {
    "startMs": 451520,
    "text": "then the server responds back with the"
  },
  {
    "startMs": 453440,
    "text": "payment required uh the client then"
  },
  {
    "startMs": 456000,
    "text": "figures out what is the payment method"
  },
  {
    "startMs": 457360,
    "text": "that it wants to operate and then it"
  },
  {
    "startMs": 459440,
    "text": "sends the payment authorization to the"
  },
  {
    "startMs": 461840,
    "text": "server the server then utilizes a"
  },
  {
    "startMs": 463599,
    "text": "facilitator to complete the verification"
  },
  {
    "startMs": 466400,
    "text": "and then also utilizes the same"
  },
  {
    "startMs": 468560,
    "text": "facilitator to complete the transaction"
  },
  {
    "startMs": 470800,
    "text": "and once the settlement is completed"
  },
  {
    "startMs": 472720,
    "text": "onchain essentially the server will then"
  },
  {
    "startMs": 474960,
    "text": "respond back with the content right so"
  },
  {
    "startMs": 476319,
    "text": "this is what's happening under the X42"
  },
  {
    "startMs": 478000,
    "text": "protocol I thought I'll pick one of the"
  },
  {
    "startMs": 479360,
    "text": "protocols and just uh explain this to"
  },
  {
    "startMs": 481199,
    "text": "you but uh why this is compelling is uh"
  },
  {
    "startMs": 483520,
    "text": "you know essentially there is no"
  },
  {
    "startMs": 484879,
    "text": "protocol fees uh or the fees that a"
  },
  {
    "startMs": 487919,
    "text": "consumer is paying for uh you know these"
  },
  {
    "startMs": 490080,
    "text": "microcent transactions and the merchant"
  },
  {
    "startMs": 492080,
    "text": "is paying very nominal gas fees is uh"
  },
  {
    "startMs": 494720,
    "text": "again there is zero wait time this is"
  },
  {
    "startMs": 496720,
    "text": "happening at the speed of internet and"
  },
  {
    "startMs": 499360,
    "text": "uh there is no friction there is no API"
  },
  {
    "startMs": 501520,
    "text": "keys to set up no subscriptions and the"
  },
  {
    "startMs": 503280,
    "text": "payment is the essentially the uh"
  },
  {
    "startMs": 505840,
    "text": "credential to be able to get the content"
  },
  {
    "startMs": 507919,
    "text": "so there is no centralization it's uh"
  },
  {
    "startMs": 510000,
    "text": "x42 can be extended as well and you can"
  },
  {
    "startMs": 512080,
    "text": "implement it and there are no"
  },
  {
    "startMs": 513120,
    "text": "restrictions as well so some key"
  },
  {
    "startMs": 515599,
    "text": "milestones here are you know it was"
  },
  {
    "startMs": 517519,
    "text": "introduced last year uh May 2025 it"
  },
  {
    "startMs": 521120,
    "text": "explored is not part of the Linux"
  },
  {
    "startMs": 523919,
    "text": "Foundation under open governance and"
  },
  {
    "startMs": 526000,
    "text": "it's backed by Coinbase, AWS,"
  },
  {
    "startMs": 529600,
    "text": "Google, Stripe, Anthropic, Cloudflare"
  },
  {
    "startMs": 532560,
    "text": "and Circle right so many more folks in"
  },
  {
    "startMs": 535040,
    "text": "there that are supporting that"
  },
  {
    "startMs": 536080,
    "text": "organizations in there. So uh from"
  },
  {
    "startMs": 538399,
    "text": "Amazon we have also released agent core"
  },
  {
    "startMs": 540560,
    "text": "payments uh under the bedrock uh suite"
  },
  {
    "startMs": 543920,
    "text": "so where uh agents will make be able to"
  },
  {
    "startMs": 546160,
    "text": "make payments and we'll go into some of"
  },
  {
    "startMs": 547519,
    "text": "the details here. So let's talk about"
  },
  {
    "startMs": 549760,
    "text": "the buyer side here and what is involved"
  },
  {
    "startMs": 551920,
    "text": "right? So we uh we understood from the"
  },
  {
    "startMs": 553920,
    "text": "developers that they really want to be"
  },
  {
    "startMs": 555120,
    "text": "able to get this uh agents to have"
  },
  {
    "startMs": 556800,
    "text": "wallet support. They want to be able to"
  },
  {
    "startMs": 558959,
    "text": "have real-time settlement uh have the"
  },
  {
    "startMs": 561600,
    "text": "budget and guardrails which enterprises"
  },
  {
    "startMs": 563839,
    "text": "really want and observability throughout"
  },
  {
    "startMs": 566000,
    "text": "the stack where they would want to have"
  },
  {
    "startMs": 568240,
    "text": "uh the full stack trace of everything"
  },
  {
    "startMs": 569760,
    "text": "that's happening uh under the hood. So"
  },
  {
    "startMs": 572160,
    "text": "I'm excited to share with you that we've"
  },
  {
    "startMs": 574000,
    "text": "launched agent core payments and this is"
  },
  {
    "startMs": 575600,
    "text": "a service that allows AI agents to"
  },
  {
    "startMs": 578240,
    "text": "autonomously discover uh authorize and"
  },
  {
    "startMs": 580480,
    "text": "execute payments with a few lines of"
  },
  {
    "startMs": 582080,
    "text": "code. Uh now we've launched this in"
  },
  {
    "startMs": 584880,
    "text": "partnership with Coinbase and Stripe"
  },
  {
    "startMs": 586959,
    "text": "where you can bring wallets from"
  },
  {
    "startMs": 589120,
    "text": "Coinbase and Stripe preview to be able"
  },
  {
    "startMs": 590800,
    "text": "to do these operations and we'll go into"
  },
  {
    "startMs": 593040,
    "text": "some of the details but uh the core"
  },
  {
    "startMs": 595120,
    "text": "capabilities to start with are wallet"
  },
  {
    "startMs": 596880,
    "text": "support where you can bring the the"
  },
  {
    "startMs": 599120,
    "text": "wallets from Coinbase and Stripe. you're"
  },
  {
    "startMs": 601360,
    "text": "able to orchestrate the payments using"
  },
  {
    "startMs": 603440,
    "text": "payment connectors and uh today we"
  },
  {
    "startMs": 605440,
    "text": "support X42 with many more protocols to"
  },
  {
    "startMs": 608240,
    "text": "uh you know that are in the pipeline."
  },
  {
    "startMs": 609920,
    "text": "The service is designed to be protocol"
  },
  {
    "startMs": 611680,
    "text": "agnostic. So as new protocols emerge, we"
  },
  {
    "startMs": 614320,
    "text": "are going to be adding the support for"
  },
  {
    "startMs": 616240,
    "text": "those protocols as well. And uh you know"
  },
  {
    "startMs": 618800,
    "text": "the the settlement is going to be"
  },
  {
    "startMs": 620240,
    "text": "instantaneous uh instant essentially and"
  },
  {
    "startMs": 623200,
    "text": "uh the payment limits can be set uh"
  },
  {
    "startMs": 625440,
    "text": "which is the most important thing that"
  },
  {
    "startMs": 626959,
    "text": "we spoke about where enterprises are"
  },
  {
    "startMs": 628399,
    "text": "looking to put some payment limits and"
  },
  {
    "startMs": 630160,
    "text": "guards on how these transactions can"
  },
  {
    "startMs": 631920,
    "text": "operate. So uh observability is builtin"
  },
  {
    "startMs": 635360,
    "text": "and uh essentially all of this uh"
  },
  {
    "startMs": 637440,
    "text": "operates with uh you know security as"
  },
  {
    "startMs": 639760,
    "text": "the uh layer that is operating uh the"
  },
  {
    "startMs": 641680,
    "text": "whole model right. So with that let's"
  },
  {
    "startMs": 643440,
    "text": "look at uh some of these uh details on"
  },
  {
    "startMs": 646000,
    "text": "how the payments limit can be set up"
  },
  {
    "startMs": 647440,
    "text": "right. So you can create payment"
  },
  {
    "startMs": 648959,
    "text": "sessions where you can set the"
  },
  {
    "startMs": 651120,
    "text": "programmatically set the maximum amount"
  },
  {
    "startMs": 653120,
    "text": "of uh uh value that can be used for"
  },
  {
    "startMs": 656160,
    "text": "transactions or you can also set expiry"
  },
  {
    "startMs": 659040,
    "text": "time in minutes. think where uh you are"
  },
  {
    "startMs": 661279,
    "text": "able to set that uh I can the agent can"
  },
  {
    "startMs": 664880,
    "text": "actually spend maybe $5 in 30 days or 60"
  },
  {
    "startMs": 668160,
    "text": "days right so that's kind of the"
  },
  {
    "startMs": 669279,
    "text": "operation uh model that you can set with"
  },
  {
    "startMs": 671920,
    "text": "many more uh you know details that are"
  },
  {
    "startMs": 673839,
    "text": "available I'm only going over a few"
  },
  {
    "startMs": 675760,
    "text": "features but uh let's look at what"
  },
  {
    "startMs": 678800,
    "text": "happens on the buyer side when the user"
  },
  {
    "startMs": 680880,
    "text": "is asking an agent to make a particular"
  },
  {
    "startMs": 683200,
    "text": "uh you know requesting for resources"
  },
  {
    "startMs": 685120,
    "text": "right so agent completes the request by"
  },
  {
    "startMs": 688160,
    "text": "accessing tools MPPP servers other"
  },
  {
    "startMs": 690800,
    "text": "resources as well. So at that point of"
  },
  {
    "startMs": 692800,
    "text": "time if the agent uh is uh looking at"
  },
  {
    "startMs": 696240,
    "text": "you know it it finds that the there is a"
  },
  {
    "startMs": 698480,
    "text": "response from one of the tool calls or"
  },
  {
    "startMs": 700560,
    "text": "requests with a 402 agent core payments"
  },
  {
    "startMs": 703279,
    "text": "is going to handle the request uh to"
  },
  {
    "startMs": 705600,
    "text": "complete the transaction and then let"
  },
  {
    "startMs": 707680,
    "text": "the AI agent know that uh essentially"
  },
  {
    "startMs": 709760,
    "text": "the settlement happened and the AI uh"
  },
  {
    "startMs": 712399,
    "text": "agent will be able to respond back with"
  },
  {
    "startMs": 714240,
    "text": "the users. So in this process when the"
  },
  {
    "startMs": 717279,
    "text": "wallets are uh wallet support is"
  },
  {
    "startMs": 719600,
    "text": "imported the the the secret keys that"
  },
  {
    "startMs": 722640,
    "text": "you use to import the wallets actually"
  },
  {
    "startMs": 724560,
    "text": "are stored in a secure token wallet that"
  },
  {
    "startMs": 726959,
    "text": "is uh secured by KMS where you know"
  },
  {
    "startMs": 730079,
    "text": "that's there. So essentially the agent"
  },
  {
    "startMs": 732160,
    "text": "does not have access to the private"
  },
  {
    "startMs": 733680,
    "text": "keys. This is most important uh to note."
  },
  {
    "startMs": 736320,
    "text": "And uh next thing is that uh agent core"
  },
  {
    "startMs": 738320,
    "text": "payments is also integrated uh through"
  },
  {
    "startMs": 740880,
    "text": "uh a gateway which is also part of uh"
  },
  {
    "startMs": 742880,
    "text": "which is another service that we have to"
  },
  {
    "startMs": 745040,
    "text": "mp5 your internal APIs. Uh through agent"
  },
  {
    "startMs": 748480,
    "text": "core gateway uh the agent core payments"
  },
  {
    "startMs": 751360,
    "text": "can get access to discovery service uh"
  },
  {
    "startMs": 753680,
    "text": "in coinbase where there are 10,000 plus"
  },
  {
    "startMs": 756240,
    "text": "endpoints that are available to transact"
  },
  {
    "startMs": 758639,
    "text": "and then u again there is a per session"
  },
  {
    "startMs": 760959,
    "text": "budget that we just discussed as well."
  },
  {
    "startMs": 763200,
    "text": "So uh there is a decoupling of agent"
  },
  {
    "startMs": 766399,
    "text": "infrastructure and uh the payment"
  },
  {
    "startMs": 768399,
    "text": "infrastructure by design where the agent"
  },
  {
    "startMs": 770560,
    "text": "can operate it it in its own loop and"
  },
  {
    "startMs": 772880,
    "text": "whenever it sees the payment the payment"
  },
  {
    "startMs": 775120,
    "text": "uh connectors orchestration payment"
  },
  {
    "startMs": 776800,
    "text": "limits and integration with third party"
  },
  {
    "startMs": 778959,
    "text": "wallets can happen right so it's"
  },
  {
    "startMs": 780320,
    "text": "important to decouple them because again"
  },
  {
    "startMs": 782560,
    "text": "skills can be poisoned inputs for the"
  },
  {
    "startMs": 785120,
    "text": "agents can also be uh you know poisoned"
  },
  {
    "startMs": 787680,
    "text": "by inputs as well right so where"
  },
  {
    "startMs": 789839,
    "text": "malicious actors could uh try to do that"
  },
  {
    "startMs": 792079,
    "text": "so By decoupling and making this uh by"
  },
  {
    "startMs": 796000,
    "text": "design a agents can essentially have a"
  },
  {
    "startMs": 798560,
    "text": "secure path for these transactions and"
  },
  {
    "startMs": 800480,
    "text": "payments do not touch the you know"
  },
  {
    "startMs": 804000,
    "text": "undeterministic path but this is more on"
  },
  {
    "startMs": 805760,
    "text": "a deterministic uh uh layer as well. So"
  },
  {
    "startMs": 808639,
    "text": "why this is important is that uh again"
  },
  {
    "startMs": 810959,
    "text": "agents uh the code of the agents does"
  },
  {
    "startMs": 813360,
    "text": "not have to change. You can bring your"
  },
  {
    "startMs": 815200,
    "text": "own model frameworks and then the"
  },
  {
    "startMs": 816959,
    "text": "payment itself uh can flow through uh in"
  },
  {
    "startMs": 819519,
    "text": "the payment uh uh layer itself. So again"
  },
  {
    "startMs": 823120,
    "text": "the controls the policies pending"
  },
  {
    "startMs": 825519,
    "text": "controls can be outside of the payment"
  },
  {
    "startMs": 828079,
    "text": "stack itself and again it's this is"
  },
  {
    "startMs": 830000,
    "text": "built to be protocol agnostic. So this"
  },
  {
    "startMs": 832399,
    "text": "is uh one of the console screens where"
  },
  {
    "startMs": 834160,
    "text": "it shows how you can import uh the"
  },
  {
    "startMs": 836320,
    "text": "payment connector uh and it shows that"
  },
  {
    "startMs": 839199,
    "text": "you know you can select the the coinbase"
  },
  {
    "startMs": 841920,
    "text": "wallet and the stripe preview wallet"
  },
  {
    "startMs": 843440,
    "text": "from the console and uh this is a demo"
  },
  {
    "startMs": 846480,
    "text": "in action where we are showing how a"
  },
  {
    "startMs": 848720,
    "text": "secure resource can be accessed. Now in"
  },
  {
    "startMs": 850800,
    "text": "this case uh the AI agent is essentially"
  },
  {
    "startMs": 854240,
    "text": "making a you know discovering that there"
  },
  {
    "startMs": 855760,
    "text": "is a secure source the agent core"
  },
  {
    "startMs": 858800,
    "text": "payments is kicking in and then it's"
  },
  {
    "startMs": 860560,
    "text": "completing the transaction by utilizing"
  },
  {
    "startMs": 863760,
    "text": "the wallet that is already integrated"
  },
  {
    "startMs": 865839,
    "text": "and uh the transaction completes. Now uh"
  },
  {
    "startMs": 869440,
    "text": "this is on the buyer side. Now let's"
  },
  {
    "startMs": 872240,
    "text": "look at the seller side to understand"
  },
  {
    "startMs": 873760,
    "text": "what's happening. Right? So uh again"
  },
  {
    "startMs": 875920,
    "text": "there is a lot of bot activity that's"
  },
  {
    "startMs": 877440,
    "text": "happening. We have released uh under uh"
  },
  {
    "startMs": 880000,
    "text": "the uh AWS web application firewall a"
  },
  {
    "startMs": 882320,
    "text": "feature where we have bot detection in"
  },
  {
    "startMs": 884160,
    "text": "place. Today we detect over 650"
  },
  {
    "startMs": 886639,
    "text": "different types of bots. Think of bots"
  },
  {
    "startMs": 888160,
    "text": "like perplexity bot, GPD bot, cloud bot,"
  },
  {
    "startMs": 891920,
    "text": "you know, again Google bots, right? So"
  },
  {
    "startMs": 893279,
    "text": "there are so many bots that are out"
  },
  {
    "startMs": 894560,
    "text": "there. So we're able to detect also"
  },
  {
    "startMs": 897040,
    "text": "understand the intent of these bots. So"
  },
  {
    "startMs": 898959,
    "text": "why are these bots accessing the"
  },
  {
    "startMs": 900399,
    "text": "content? Are they accessing the content"
  },
  {
    "startMs": 902079,
    "text": "to train their models? are they doing it"
  },
  {
    "startMs": 904240,
    "text": "because they have to respond back to an"
  },
  {
    "startMs": 906240,
    "text": "intent where they're uh responding for a"
  },
  {
    "startMs": 908160,
    "text": "rag search. So we're able to identify"
  },
  {
    "startMs": 910160,
    "text": "the intent. We're also able to verify"
  },
  {
    "startMs": 912240,
    "text": "the bots and identify them by a"
  },
  {
    "startMs": 914800,
    "text": "signature. So we are able to say hey"
  },
  {
    "startMs": 917360,
    "text": "this is a verified bot. So maybe you"
  },
  {
    "startMs": 919680,
    "text": "have uh built a relation with one of"
  },
  {
    "startMs": 921920,
    "text": "these organizations and these"
  },
  {
    "startMs": 924000,
    "text": "verification will allow you to have a"
  },
  {
    "startMs": 926160,
    "text": "different pricing for the organizations"
  },
  {
    "startMs": 928480,
    "text": "that are already verified. So we'll look"
  },
  {
    "startMs": 930240,
    "text": "at that in a second. So there's also"
  },
  {
    "startMs": 931680,
    "text": "real-time traffic analysis that allows"
  },
  {
    "startMs": 934480,
    "text": "uh more uh to be customized. And I'm"
  },
  {
    "startMs": 936639,
    "text": "also happy to share with you today that"
  },
  {
    "startMs": 938399,
    "text": "we announced VAF AI traffic"
  },
  {
    "startMs": 941120,
    "text": "monetization. This is a service that"
  },
  {
    "startMs": 942800,
    "text": "allows you to monetize uh based on the"
  },
  {
    "startMs": 945360,
    "text": "content that uh you know based on how"
  },
  {
    "startMs": 947600,
    "text": "you can measure, verify and monetize"
  },
  {
    "startMs": 949759,
    "text": "based on the AI traffic that is hitting"
  },
  {
    "startMs": 951360,
    "text": "your endpoints. Now if you might be"
  },
  {
    "startMs": 953600,
    "text": "familiar with CloudFront which is our"
  },
  {
    "startMs": 955040,
    "text": "content distribution network you can add"
  },
  {
    "startMs": 957199,
    "text": "a web application firewall at that point"
  },
  {
    "startMs": 959360,
    "text": "and essentially you can moni start"
  },
  {
    "startMs": 961440,
    "text": "monetizing uh right away and based on a"
  },
  {
    "startMs": 964320,
    "text": "few clicks uh you can do that again"
  },
  {
    "startMs": 966000,
    "text": "using infrastructure as code as well."
  },
  {
    "startMs": 967759,
    "text": "Now I also spoke about a gateway service"
  },
  {
    "startMs": 970320,
    "text": "that allows you to expose your AI"
  },
  {
    "startMs": 972560,
    "text": "endpoints uh that are internal use and"
  },
  {
    "startMs": 975040,
    "text": "mcpify them. So the same web application"
  },
  {
    "startMs": 977440,
    "text": "firewalls can be used there. So your"
  },
  {
    "startMs": 979199,
    "text": "internal APIs can be MCPI and then you"
  },
  {
    "startMs": 981279,
    "text": "can start monetizing as well. So what"
  },
  {
    "startMs": 983519,
    "text": "happens during monetization? The AI"
  },
  {
    "startMs": 985839,
    "text": "agent AI bot essentially requests for"
  },
  {
    "startMs": 988480,
    "text": "some content. The bot context uh"
  },
  {
    "startMs": 991600,
    "text": "understands what kinds of bots is"
  },
  {
    "startMs": 993519,
    "text": "detecting it. It's able to detect the"
  },
  {
    "startMs": 994959,
    "text": "bot. It's able to categorize and"
  },
  {
    "startMs": 997120,
    "text": "understand the intent of the bot as we"
  },
  {
    "startMs": 999279,
    "text": "discussed earlier and verify uh and"
  },
  {
    "startMs": 1002320,
    "text": "check what kind of bot is available. So"
  },
  {
    "startMs": 1003920,
    "text": "then we are able to monetize uh using"
  },
  {
    "startMs": 1006320,
    "text": "the X42 and the publishers get paid as"
  },
  {
    "startMs": 1009199,
    "text": "well. So important to note is that again"
  },
  {
    "startMs": 1011519,
    "text": "there is no SDK change no changes at the"
  },
  {
    "startMs": 1013839,
    "text": "origin origin. Publishers keep 100% of"
  },
  {
    "startMs": 1016320,
    "text": "the revenue as well and uh again there"
  },
  {
    "startMs": 1019120,
    "text": "is no transaction fees or subscription"
  },
  {
    "startMs": 1020720,
    "text": "fees. So this supports X42 and we are"
  },
  {
    "startMs": 1024000,
    "text": "adding support for more uh protocols as"
  },
  {
    "startMs": 1026400,
    "text": "well. U a few dimensions on how you can"
  },
  {
    "startMs": 1029360,
    "text": "start monetizing. Think uh you have"
  },
  {
    "startMs": 1031520,
    "text": "separate paths. So a slash uh uh blog in"
  },
  {
    "startMs": 1035039,
    "text": "this case can be charging for a"
  },
  {
    "startMs": 1036640,
    "text": "different rate than a slash research or"
  },
  {
    "startMs": 1039039,
    "text": "maybe an API endpoint itself and uh you"
  },
  {
    "startMs": 1042079,
    "text": "you know the identity of these bots."
  },
  {
    "startMs": 1044000,
    "text": "Again, if you make uh some kind of a"
  },
  {
    "startMs": 1046400,
    "text": "relationship with the uh bots uh"
  },
  {
    "startMs": 1049360,
    "text": "companies, organizations, maybe you make"
  },
  {
    "startMs": 1050960,
    "text": "a relation with Anthropic, then you can"
  },
  {
    "startMs": 1053120,
    "text": "essentially have a different pricing for"
  },
  {
    "startMs": 1054559,
    "text": "those bots versus different uh"
  },
  {
    "startMs": 1056400,
    "text": "unverified bots, right? So, uh think of"
  },
  {
    "startMs": 1059039,
    "text": "that option. And then you can also set"
  },
  {
    "startMs": 1060640,
    "text": "different pricing for intent as well. If"
  },
  {
    "startMs": 1062559,
    "text": "somebody's coming here, if a bot is"
  },
  {
    "startMs": 1065200,
    "text": "accessing the content for uh again"
  },
  {
    "startMs": 1067360,
    "text": "training, you can charge a different"
  },
  {
    "startMs": 1068799,
    "text": "rate than what it's doing for a search"
  },
  {
    "startMs": 1070640,
    "text": "as well. So again, these are different"
  },
  {
    "startMs": 1072559,
    "text": "VAF rules. they can be uh in a"
  },
  {
    "startMs": 1074400,
    "text": "combination of end or or then you can"
  },
  {
    "startMs": 1077200,
    "text": "access that. So this is how the"
  },
  {
    "startMs": 1078480,
    "text": "reimagine flow would look like uh where"
  },
  {
    "startMs": 1081120,
    "text": "you're allowing the AI agents or you"
  },
  {
    "startMs": 1084480,
    "text": "know essentially verified bots and"
  },
  {
    "startMs": 1086160,
    "text": "unverified bots to have different"
  },
  {
    "startMs": 1087679,
    "text": "pricing and humans to have different"
  },
  {
    "startMs": 1089440,
    "text": "pricing. Some cases you want to have"
  },
  {
    "startMs": 1091120,
    "text": "humans to access the content freely."
  },
  {
    "startMs": 1092960,
    "text": "Some cases again the humans could be"
  },
  {
    "startMs": 1094720,
    "text": "charged where the bots could be charged"
  },
  {
    "startMs": 1096799,
    "text": "differently as well. Right? So this is"
  },
  {
    "startMs": 1098240,
    "text": "how uh you know you can reimagine the"
  },
  {
    "startMs": 1100000,
    "text": "price. So again there is some uh"
  },
  {
    "startMs": 1101919,
    "text": "dashboards that show the revenue numbers"
  },
  {
    "startMs": 1104960,
    "text": "and how uh you know you're uh able to"
  },
  {
    "startMs": 1107520,
    "text": "aggregate by different uh bots and"
  },
  {
    "startMs": 1110160,
    "text": "figure out what kind of revenue model"
  },
  {
    "startMs": 1111440,
    "text": "you want to operate and it also shows"
  },
  {
    "startMs": 1113280,
    "text": "what is the path uh that's being"
  },
  {
    "startMs": 1115679,
    "text": "accessed by these bots right so uh again"
  },
  {
    "startMs": 1118640,
    "text": "what is currently uh everyone using"
  },
  {
    "startMs": 1120480,
    "text": "agent e-commerce for they're using agent"
  },
  {
    "startMs": 1122640,
    "text": "commerce to uh run um again LLM"
  },
  {
    "startMs": 1125440,
    "text": "inference getting uh compute web"
  },
  {
    "startMs": 1128080,
    "text": "scraping uh they're uh creating research"
  },
  {
    "startMs": 1130320,
    "text": "search agents to be able to uh you know"
  },
  {
    "startMs": 1133440,
    "text": "serve the requests and uh agent to agent"
  },
  {
    "startMs": 1135840,
    "text": "as well. We see MCPs also being"
  },
  {
    "startMs": 1137679,
    "text": "monetized now. Uh again this is the last"
  },
  {
    "startMs": 1140799,
    "text": "12 months of uh traffic uh from um again"
  },
  {
    "startMs": 1144080,
    "text": "what we are seeing on uh Coinbase"
  },
  {
    "startMs": 1146000,
    "text": "agentic market u where you're seeing"
  },
  {
    "startMs": 1148720,
    "text": "that a $50 million volume transaction"
  },
  {
    "startMs": 1150960,
    "text": "happened over 170 million transactions."
  },
  {
    "startMs": 1153919,
    "text": "The average settlement time is 200"
  },
  {
    "startMs": 1155520,
    "text": "milliseconds on base uh with about a"
  },
  {
    "startMs": 1159520,
    "text": "tenth of a cent as cost per transaction."
  },
  {
    "startMs": 1162559,
    "text": "So I spoke to you about agent uh agent"
  },
  {
    "startMs": 1165440,
    "text": "core payments which is uh one of the you"
  },
  {
    "startMs": 1168320,
    "text": "know parts of the bigger ecosystem agent"
  },
  {
    "startMs": 1170320,
    "text": "uh bed agent core uh where you can"
  },
  {
    "startMs": 1173200,
    "text": "essentially bring your own model. You"
  },
  {
    "startMs": 1174960,
    "text": "can bring your own framework and uh you"
  },
  {
    "startMs": 1177440,
    "text": "can start building AI agents. You can"
  },
  {
    "startMs": 1180960,
    "text": "add context by adding memory. You can uh"
  },
  {
    "startMs": 1183760,
    "text": "bring again your own managed knowledge"
  },
  {
    "startMs": 1185440,
    "text": "bases. You can add web search"
  },
  {
    "startMs": 1186720,
    "text": "capabilities to the agents. you can"
  },
  {
    "startMs": 1188480,
    "text": "mcpify your internal APIs and then you"
  },
  {
    "startMs": 1191280,
    "text": "can uh have many more features like"
  },
  {
    "startMs": 1193360,
    "text": "being able to run evaluation on how your"
  },
  {
    "startMs": 1195600,
    "text": "agents are performing. So again you can"
  },
  {
    "startMs": 1198400,
    "text": "uh use runtime which is a bedrock uh"
  },
  {
    "startMs": 1201120,
    "text": "agent core runtime where you can bring"
  },
  {
    "startMs": 1203360,
    "text": "your own agentic uh uh application and"
  },
  {
    "startMs": 1206640,
    "text": "serve uh at scale and every request will"
  },
  {
    "startMs": 1210000,
    "text": "have uh its own isolated uh micro"
  },
  {
    "startMs": 1212880,
    "text": "virtual machine that is running to serve"
  },
  {
    "startMs": 1214559,
    "text": "the requests. So that's it from my side"
  },
  {
    "startMs": 1217120,
    "text": "here today. Uh thank you and uh hope you"
  },
  {
    "startMs": 1220000,
    "text": "have a nice day."
  },
  {
    "startMs": 1222244,
    "text": "[applause]"
  },
  {
    "startMs": 1238619,
    "text": ">> [music]"
  }
]