- Visa and Reddit tried to make innovative implementations of Defi and Ethereum.
- Reddit is going to launch community points for the subreddits.
- Almost all the major companies around the world are recognizing and exploring the potential of crypto.
Per Ethereum news, Investors are extremely bullish for Defi and Ethereum. Recently, Visa and Reddit tried to make innovative implementations of Defi and Ethereum. This will start a new market cycle for crypto companies. Reddit is going to launch community points for the subreddits. Almost all the major companies around the world are recognizing and exploring the potential of crypto. Visa will release digital currency this year. This could the reason for the latest Ethereum price surge.
Reddit Launches Community Points
The latest Ethereum news is Reddit recently started trials of community points. In these trials, Reddit will reward the contributors of certain subreddits. /r/cryptocurrency and /r/FortniteBR helped Reddit to launch the trial. These trials will introduce the Defi and Ethereum ecosystem to millions of users. These Reddit’s trials will initialize with the tokens living on the Ethereum testnet with the planning of launching on mainnet after thorough testing.
Moreover, the Defi ecosystem has around 150,000 users. Hence, the ecosystem can double its users after these trials. One can get these community points by submitting quality content. Thus, Only users will spend the community point i.e. Reddit or other moderators don’t have any right to decide what the user will do with his community points.
Visa Has Filed Patent for Ethereum-Based Stablecoin
Visa has filed a patent for digital fiat currency. The American multinational financial services corporation mentioned Ethereum in their patent application for numerous times as a potential part of its technology for the digital currency patent. However, this does not mean Visa will leverage the public Ethereum blockchain for its digital fiat currency.
Well, we all know that not all patent leads to new technology or products. Hence, there are some uncertainties remained about launching the Visa stablecoins. However, many of the financial experts expect that the fiat-backed stablecoins from Visa will be the key alternative in all developed countries in the near future.