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Giorgio Giuliani
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March 9, 2026

Delegating Money: The Architecture of Agentic Payments 

By Giorgio Giuliani
11 Min Read
09March

Agentic commerce introduces a new financial actor: the individual as a “corporation of one”, delegating spending authority to multiple AI agents.

This post explores the emerging infrastructure required to support this model: from identity and guardrails to fraud systems and machine-native payment rails.

November 25, 2025

Fractional Reserve Banking onchain

By Giorgio Giuliani
7 Min Read
25November

Stablecoins are, in essence, the first large-scale experiment in narrow banking. Every USDC or USDT is (or supposed to be) fully backed by reserves – cash or short-term Treasuries – sitting safely off-chain. This architecture is what makes these tokens stable, but it also sterilizes capital: every dollar deposited creates no new credit, no new economic activity. In contrast, the...

By Giorgio Giuliani February 12, 2026