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…
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, freely.
Ryan was introduced on the Reddit blog recently. He has been the Reddit Crypto Engineer for the past four months. Prior to Reddit, Ryan worked for BitPay. Based in San Francisco, he was the lead developer for the area.
BitPay is a Bitcoin payment processor. They provide merchants the ability to accept bitcoins without the risk of holding cryptocurrency.
“Bitcoin technology will ultimately become integral to reddit.” – Ryan Charles
Charles shared brainstorming ideas with users on the Reddit blog. Without being too specific, he references “The Mega-Master Blockchain List.” A draft for what items could theoretically exist in a blockchain model.
Effectively, this is taking the blockchain out of Bitcoin and reapplying it elsewhere.
The Financial Instruments Bitcoin fulfills appear in the news with abundance. How often does talk of gun permits, Degrees & Certifications, Medical records enter the conversation? Stalwarts of the idea that it is impossible to remove the blockchain from Bitcoin can put away their pitchforks. Charles has no interest in creating another altcoin. In fact, it is his preference to build something else on top of the blockchain and Bitcoin protocol.
Despite developer concerns, it is unclear whether Reddit’s mingle with blockchains will be part of Bitcoin, Bitcoin 2.0 or another altcoin. For now, the announcement of a Reddit Crypto Engineer is another item in a long queue of events that is going to make 2015 an exciting year for Bitcoin.
What do you think? Comment Below
Images from GitHub, LiveStyleManilla and Wikimedia Commons.
Last modified: January 3, 2020 3:30 PM UTC