Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
Can you talk about what this is and what it actually does and what the adoption path looks like?
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
Yeah, talk about that then, because we've done entire episodes on X402.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
Okay, cool.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
I mean, the way I understand this, this is not too much unlike the way human beings work, really.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
But the idea of like reputation and a reason, if you are sort of a cynic, a reason that I wouldn't rug pull you, David, right, is because our business relationship is like fantastic, right?
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
It's like maybe it's because I'm a good person too.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
We all like to think that, but like,
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
It's also because I want the reputation of somebody that doesn't rug pull his partners.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
And the value that you and I can create together is worth a lot more than some sort of rug pull if I just went in our accounts and took all the money.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
That would be a bad expected value.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
Yes, right.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
And it would decrease my economic prospects for working with anyone else in the future, basically.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
And so there is a reason why an AI agent's reputation would be far more valuable than any kind of rug pull it could pull off, at least you could think.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
And then in cases where it's not,
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
you have skin in the game, validation sort of incentive.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
Actually, Davide, I'm wondering how this works in practice because when it comes to like identity and reputation protocols, at least for humans, we don't really see that in the real world.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
And there's also a question of like, why does this need to be a standard?
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
Is it not the case that
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
Where I do see sort of reputation schemes in the real world is in centralized providers and they're somewhat fragmented and scattered.
Bankless
AI on Ethereum: ERC-8004, x402, OpenClaw and the Botconomy | Austin Griffith & Davide Crapis
So you might see it in an Amazon five-star review and of course that gets gamed or Google review or something like that.