News

Reddit Plans To Convert Its Karma Points To ERC-20 Tokens

When tokenized, Karma points would become independent of Reddit, existing on community-controlled blockchains.

Published

3 years ago

November 12, 2021

reddit plans to convert its karma points to erc-20 tokens

A series of now-deleted Tweets by Reddit engineer Rahul Kothari has recently revealed that the social media site is planning to start converting user’s Karma points into ERC-20 tokens.

“When we all pull this off, we would onboard 500M web2 users into web3 and then there is no going back. Let me say that again — 500 million new crypto users” wrote Rahul in his Tweet.

Currently, Karma points are supposed to reflect how much individual users contribute to the community, and they are earned for posting, commenting, and receiving or giving awards.

When tokenized, Karma points would become independent of Reddit, existing on community-controlled blockchains. Reddit calls such points Community Points, and two subreddits already use them: r/CryptoCurrency and r/FortNiteBR.

While r/CryptoCurrency calls its Community Points Moons, r/FortNiteBR uses the name Bricks. In both cases, Community Points reward posters, commenters, and moderators for their contributions, and they are distributed on a monthly basis.

One cool feature enabled by Community Points is weighted voting, where members get one vote for every Point they have, making it possible for the biggest contributors to influence voting the most.

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Community Points can also be traded just like any other token with a sizable user base. At the time of writing, one Moon is worth roughly $0.20 and one Brick nearly $0.10. By attaching a monetary value to Reddit contributions, Community Points change the game quite dramatically, and many Reddit users, including those involved in crypto, are not thrilled by this.

“Once they started passing out moons the sub’s quality content dropped, the bots showed up, and now they have votes seemingly every month to tweak how the moons are handed out and what is banned from the sub. It’s ridiculous,” commented u/goofytigre in the r/Ethereum subreddit.

Considering that Reddit is already criticized for being an echo chamber, it will be interesting to see the effect of the tokenization of its Karma points on the community.

News

“AI Seal” Certification Now Required For Dubai Gov Partnerships

The new mandatory certification is designed to build trust in AI companies and create a reliable network of providers for government and public collaboration.

Published

20 hours ago

January 21, 2025

Nour Nasir

ai seal certification now required for dubai gov partnerships

Dubai Media Office

Dubai has introduced the Dubai AI Seal, a certification designed to establish trust in artificial intelligence (AI) companies and solutions. This initiative, directed by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister, aims to create a reliable network of AI providers which government entities and businesses can collaborate confidently.

Companies must now obtain the AI Seal to qualify for UAE or Dubai government contracts. The Dubai Centre for Artificial Intelligence (DCAI), which developed the certification, sees it as a competitive edge for companies looking to participate in key national projects. Once certified, businesses will be permitted to showcase the seal across their websites and marketing materials, signaling their credibility and dependability.

The evaluation process will consider six main criteria: the company’s services and operations, the number of employees specializing in AI, ongoing and future projects, as well as existing partnerships with public and private sector entities.

dubai ai seal certification

Khalfan Belhoul, CEO of the Dubai Future Foundation, which oversees the DCAI, commented on the initiative’s potential: “This initiative will help create powerful partnerships between the public and private sectors, locally, regionally, and globally. It will help drive new economic opportunities by leveraging AI to serve better the economy, society, and the future we aspire to”.

Also Read: Top Free AI Chatbots Available In The Middle East

The Dubai AI Seal’s goals include providing a clear framework for verifying AI providers, fostering business opportunities for AI companies, and acknowledging the industry’s strategic importance to Dubai’s economy. The initiative emphasizes AI’s role in driving economic growth, creating jobs, and strengthening collaboration between government bodies and technology firms.

All technology companies operating in Dubai and offering AI-related services or products are eligible to apply for the certification at no cost through the official website.