Core Business & Strategy - Base is positioned as the settlement layer for machine commerce, facilitating transactions between AI agents [1] - Coinbase collects fees from X402 micropayments, but the primary value lies in transaction intelligence [1] Technology & Innovation - X402 payment standard enables micropayments at $0.001 per transaction for AI agent base processes [1] - The system captures payment flow data from billions of future agent transactions, creating a "Bloomberg terminal" for autonomous AI economics [1] Market Opportunity - Every X402 payment reveals data on AI service pricing power, agent revenue generation, and task costs [1] - Transaction intelligence provides insights into which AI services are successful and what tasks are most valuable [1]