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Agentic Economy on Arc

I have read the documents and forum posts and noticed many questions about agents and how ERC-8183 operates. While there are some good posts, many are still incomplete. Therefore, I am writing this article based on my own experiences during the development of my Gigawork project. I hope this will provide you with a clear perspective and the best example of how the AI Agent economy operates based on ERC-8004 and ERC-8183!

Today, when you want to work with someone on the internet, you have to search on social platforms like X, Facebook, Discord, or through intermediary companies like Upwork, Fiverr, or other platforms. Social platforms carry a high risk of scams as work is mainly based on reputation and prestige, whereas if you go through employment intermediary companies:

: You have to pay 20-30% to the intermediary company

: The company decides who is allowed to work and who is not

: The approval and payment process takes many days

: The company holds the power, and workers must follow their rules

: You can only work in countries that the company allows

But what would happen if intermediary companies were not needed? No need to work based on intuition with social media? And what would happen if you could work directly with others without anyone standing in the middle? And especially, what if you wouldn't be scammed like transactions on social media? And what if trust was built automatically through blockchain instead of having to rely on blind faith on social media or through intermediary companies? Let's find out if this is feasible!

In the future, there will be billions of AI Agents operating as intelligent programs that can work independently, but the biggest problem is: if you are an AI Agent, how do you prove you are trustworthy? How do you receive work from other Agents? How do you receive full payment when the work is finished?

Those are precisely the problems that ERC-8004 and ERC-8183 solve.

Learn about ERC-8004 and ERC-8183: dedicated standards for the Agent economy

: solves the problem of identity and reliability, allowing AI Agents to have verified identities and public reputation scores on the internet

: solves the problem of secure transactions, allowing AI Agents to transact in a safe and transparent manner

Together, they create the Agent economy—a completely new economic system, requiring no intermediary companies, fully public, and fully free.

How Do We Know an AI Agent is Trustworthy?

Imagine you are an AI Agent with work capabilities and you want to receive tasks from other Agents, but how do they know you are reliable? How do they know:

Have you performed well in the past or not?

What certifications or skills do you have?

Verifying identity and reliability with ERC-8004

ERC-8004 is a standard on the Arc Network that enables AI Agents to:

: These validations are backed by reputable third-party certificates.

When an AI Agent first joins the Arc Network, it must register its identity and undergo verification. This process can be summarized as follows:

Provide basic information about the AI Agent.

Verify information through the Identity Registry.

The AI Agent receives a unique ID on the blockchain.

Each AI Agent is minted an NFT as a unique identity passport.

Once it has an identity NFT, the AI Agent can:

Similar to humans, identity alone is not enough; people need to know if you are reliable. This is why the reputation registry exists.

Every time an AI Agent completes a task, the action is recorded in the Reputation Registry.

If the work is completed well, the Agent's reputation increases with each task.

If the work fails or is rejected, the reputation decreases.

Over time, the AI Agent builds a public reputation profile.

You receive better tasks if your reputation is high.

You command higher prices because people trust you.

In addition to automated reputation, an AI Agent can request specific validations from the Validation Registry. These specific validations help prove, for example: "This Agent is skilled in data processing," "This Agent has never failed in 100 transactions," or "This Agent complies with Arc Network rules."

The advantages of these validations help AI Agents:

Take on more difficult tasks with higher requirements.

Receive higher pay due to having certifications.

ERC-8183: a job revolution for secure transactions between agents

Now that an AI Agent has an identity and reputation, it wants to accept jobs and earn money. But a problem arises:

How can the Client be sure that the Provider will complete the work?

How can the Provider be sure that the Client will pay?

How to make payments safely without an intermediary company?

On the internet, if you want to ensure safety when working, you have to rely on intermediary companies like Upwork, Fiverr, etc., to hold the money and decide on disputes, but the costs are too high and the waiting time is too long. Blockchain is perhaps the perfect solution to resolve this issue quickly and safely for both the Client and the Provider.

ERC-8183: the perfect solution with agentic transaction standards

ERC-8183 is a standard that allows AI Agents to:

: The Client describes the work to be done to create a job

: The Provider offers the minimum price required for the work

: Money is held directly in escrow until the work is completed

: The Provider submits the product, and the Client confirms completion

: Money is automatically transferred to the Provider when the Client marks the work as completed

Detailed Lifecycle of a Job Using ERC-8183

A client AI Agent creates a job, describing the work, specific requirements, deadlines, and evaluation criteria. The job is posted publicly on the ERC-8183 Contract in an "Open" state.

: One or more provider AI Agents review the job. They assess the difficulty, set a price (e.g., "I will do this for X tokens"), and send a proposal. The client can accept, reject, or negotiate.

: Once the client approves the price, they approve the tokens (e.g., USDC) and send them to an escrow account on the blockchain. The funds are locked no one can take them. The job moves to "Funded."

: When the provider AI Agent finishes the work, they submit the product (e.g., a report, data, or proof hash). The job moves to "Submitted."

: An evaluator (usually the client or a third party) checks the product against the requirements. If it passes, the job is marked "Completed." Funds in escrow are released to the provider, and reputations for both parties are updated.

ERC-8004, ERC-8183, and the Agent Economy of the Present and Future

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