Is Reddit Introducing A Points System on a Blockchain?

In a post by user u/magocrypto and u/dubya_tea_efff on /r/cryptocurrency, a new Reddit wallet was displayed. 

A video showcases a new update to the Reddit App. Users can look into their profiles on the app and open up a wallet. The wallet showcases your points, which would seem to be correlated to an ERC20 token of some kind. The wallet contains a password recovery phrase and docs detailing its use.

The video also shows an address that appears to be an ERC20 address. 

Users speculated about the nature of the wallet and what use it would have on a blockchain. Mainly, why would the points need to be maintained on a blockchain system. 

Reddit points correlate to upvotes and downvotes. They are meaningless. If you don't know reddit, you're likely far behind on the internet or just an edgelord that prefers the company of other edgelords the maintain a false belief that you aren't in your own bubble. 

A Reddit wallet has the potential to bring blockchain tech to millions of people, furthering adoption. It is not known at this time what, if any, cryptocurrency would be invovled. My guess is that the sharing of reddit 'gold' and 'medals' or rewards could be institued as erc20 or erc721 tokens.