Future Use Cases for Blockchain Technology: The Reddit We All Want It To Be

Reddit is the 9th most visited site in the US and ranks 36th for the entire world. Incorporating Bitcoin into Reddit would expose millions of people to the nascent technology. In the past week, Reddit Crypto Engineer Ryan Charles debuted on the Reddit Blog. The blog announced plans to integrate Reddit with Bitcoin's blockchain technology simultaneously. Recently, Reddit's CEO, Yishan Wong, resigned. Alex Ohanian, Reddit co-founder, returned as executive chairman. With that return, Reddit announced the consideration of creating its own cryptocurrency. Shares would be given to the community,....

Earlier today, Reddit posted to its blog and announced the "Reddit notes," the name of the long-awaited Reddit cryptocurrency. Reddit recently closed a $50 million USD funding round led by Sam Altman, Marc Andreessen of Andreessen Horowitz, and Alfred Lin of Sequoia Capital. Soon thereafter, Reddit announced their plans to "share" 10% of the equity raised with the loyal users of Reddit, without whom the funds could not have been raised. To help with their new cryptocurrency, Reddit posted a job ad for a "cryptocurrency engineer" and quickly hired BitPay developer Ryan Charles back in....

Reddit continues to toe the line between staying a decentralized media platform and a centralized one, which could gain more backing from venture capitalists. According to prominent venture capitalist Fred Wilson, the platform might not be able to find this kind of middle ground and that a revamp might need to rely on blockchain technology. Blockchain refers to the public ledger of transactions in bitcoin. This is updated by several computer solving complex algorithms to add blocks of code to the blockchain upon transaction verification. Since it is stored across a vast network, the....

The popular forum and news aggregation web portal Reddit has revealed the firm’s Community Points beta program where Reddit users can “own a piece” of their community with “custom tokens” for subreddits. Blockchain-Backed Reddit Community Points: ‘The First Step Towards a Different Future for Online Communities’ At the end of July, Reddit announced that the platform’s Community Points system would leverage the Layer 2 (L2) protocol Arbitrum. This week, Reddit revealed a new website that features the Community Points beta....

As global banks are increasingly experimenting with the blockchain to search for possible use-cases that they can implement in its existing banking systems, CoinTelegraph has compiled a list of some of the most notable banking giants experimenting with Bitcoin’s underlying technology. Some of the world’s most prominent banks including Citibank are even trying to create their own blockchain to facilitate transactions and settlements quickly. The following list will explore which big banks are closely studying and developing interesting use-cases for the blockchain. Santander Bank, the....