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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.

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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.

Also Read: Riyadh Will Become Home To The Second Snap Creator Studio Globally

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.

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Initial Trials Of Dubai’s Driverless Evocargo Trucks Completed

Testing was announced on July 17, and the completion is a major milestone towards upgrading the region’s logistics infrastructure.

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initial trials of dubai's driverless evocargo trucks completed
Dubai Media Office

A Dubai-based company has completed the initial trials for the UAE’s first driverless trucks. The groundbreaking achievement by Evocargo, partnering with Dubai South, took place at Dubai South Logistics District, and marked a significant step towards incorporating autonomous technologies into the region’s wider logistics infrastructure.

Announced on Wednesday, July 17th, the trials featured the Evocargo N1 unmanned electric truck navigating a predetermined route within a controlled setting. The test involved interactions with common road obstacles such as cars, trucks, and pedestrians, aiming to evaluate the vehicle’s hardware and software reliability, accident prevention systems, and overall readiness for public road use.

Officials were keen to highlight that this accomplishment aligns with the UAE’s ambitious strategy to position itself as a global leader in innovation and technology adoption. The country aims to have 25% of all transportation in Dubai autonomous by 2030, underscoring its commitment to revolutionizing the logistics sector using advanced technologies.

Mohsen Ahmad, CEO of the Logistics District at Dubai South, emphasized the importance of the collaboration with Evocargo in enhancing the region’s logistics capabilities. He noted that autonomous vehicles are set to increase efficiency, reduce carbon emissions, and establish a sustainable logistics infrastructure that will benefit both Dubai and the wider UAE.

Also Read: Riyadh Developers Reveal New 45,000-Seat Murabba Stadium

Ahmed Al-Ansi, CEO of Evocargo Autonomous Logistic Services, also expressed optimism that the trials will draw new customers and investments across the Gulf Cooperation Council (GCC) countries. The partnership aims to lead in innovative tech solutions, further establishing the UAE as a pioneer in autonomous transportation.

The successful completion of the trials marks a crucial step towards realizing the UAE’s vision for a technologically advanced and sustainable future in which autonomous vehicles are expected to play a pivotal role in global logistics.

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