Letting one party act for another with a boundary attached: which actions, on whose behalf, until when. It is the piece that makes an agent acting for a person auditable rather than indistinguishable from them.

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A Useful Token Must First Stand for Something of Real Value

OpinionAug 7, 2026

A Useful Token Must First Stand for Something of Real Value

AI services already use credits to meter storage, compute, and API calls. As Agents begin to act across systems, the important work is not giving those units a fashionable name. It is making the rights, authority, and usage they represent possible to verify and reconcile.