BlackRock's latest paper lays out the most critical money path for AI × Crypto: In the future, machines will spend money on their own (all knowledge-based). Once AI Agents truly start running, they'll need to buy data, call APIs, rent GPUs, subscribe to software daily—and many transactions might only be a few cents, yet require 24/7 automated execution. Payment systems like credit cards and ACH were originally designed for "humans," but Agents need a financial system that machines can directly access, settle instantly, and handle amounts as small as a few cents. BlackRock's answer? Stablecoins + blockchain. By 2025, after filtering out noise like internal exchange transfers and bots, stablecoin transaction volume is projected to hit $11.2 trillion, with a compound annual growth rate of 80% from 2020–2025. In comparison, ACH growth during the same period is only about 8.5%. More importantly, when an Agent buys an API via x402 and pays with stablecoins, every machine transaction could further drive demand for block space, validation, and settlement—ultimately interacting with native assets like $ETH on public blockchains. But what I find most interesting about BlackRock's paper is actually the second half: Computing power might directly become a financial asset. From 2025–2030, cumulative capital expenditure on AI infrastructure could exceed $5 trillion, with AWS, Microsoft Intelligent Cloud, and Google Cloud collectively expected to generate around $1.1 trillion in revenue by 2030. By then, AI inference is projected to consume about 43% of global data center electricity. In the future, GPU computing power rights could very well be standardized and tokenized, turning into assets that can be traded, financed, collateralized, or even hedged. Agents could compare prices, latency, and chip models, then automatically purchase computing power and make payments. Once this chain is fully operational, Crypto's user base won't just be humans trading assets—it'll be a massive number of AI Agents buying data, computing power, making payments, and settling transactions around the clock. Stablecoins become cash for machines, public blockchains become settlement layers for machines, tokenized RWA (real-world assets) become assets machines can access, and computing power might even become the next on-chain commodity. BlackRock has already started reevaluating digital assets through this framework.