IBM To Issue a ‘Green’ Token On Stellar Blockchain, Replenish The Environment

IBM To Issue a ‘Green’ Token On Stellar Blockchain, Replenish The Environment

The tech titan IBM is emitting its ever-first token. For that, the multinational company, headquartered in New York, will use public blockchain, provided by Stellar.

Notably, by such an act, IBM is going to kill two birds with one stone. Firstly, it will keep adapting to the emerging technologies, and, secondly, it will contribute to the protection of the environment. How? Here are the details.

Our top trading bots

IBM To Offset Climate Change With… Tokens?

IBM has recently informed that it has signed a deal with an environmental, financial technology startup Veridium Labs, which is also known as “carbon credits” startup. The two are going to partner on the issuance of a virtual token on the Stellar blockchain, Forbes reports.

The novel tokens are called “verde” (which can be translated from Spanish as “green), and they are generated to help environmentally unfriendly businesses compensate the damage. Thus, they will be able to support clout of rainforests in Indonesia.

As it is known, carbon credits are a permit thanks to which countries can produce a particular quantity of carbon emissions. And if the full number of these credits is not used, they can be sold.

This permit is not new. However, it is indeed time-consuming to trace someone’s history of pollution and to check whether the funds were used to replenish the nature. Moreover, it is not that transparent.

Jared Klee, a new blockchain offering manager at IBM, explained that the blockchain could be a solution to this problem. Firstly, the DLT can speed up the tracking process and make it less opaque as, in fact, everybody will be able to get access to it. Secondly, credits will be tokenized, hence, it will be possible to sell them in other ways distinct from fiat transactions.

The “verde” tokens will be built on top of the Stellar blockchain. All the collected funds from their vending will be used to reforest a 250-square territory on Borneo (Indonesia).

Korean blockchain experts seek the government’s help for digital asset market
The Korea Digital Asset Industry Committee, comprising of leading blockchain experts in South Korea, has called for the formation of a government committee...
Crypto Stories: Gavin Wood discusses why he decided to code Ethereum
Among the original founding fathers of Ethereum (ETH) is Gavin Wood, who joined a group led by Vitalik Buterin that set out to build Bitcoin's competition....
Crypto-focused software firm Lukka raises $110M, reaches $1.3B valuation
Cryptocurrency accounting and data company Lukka said it had raised $110 million in a new funding round led by hedge fund giant Marshall Wace.In a Friday...
3 reasons why Ethereum price can drop below $3K by the end of 2021
Ethereum's native token Ether (ETH) reached an all-time high around $4,867 earlier in November, only to plunge by nearly 20% a month later on rising profit-taking...
Immersive cooling tech could help Bitcoin mining go green by 2030
Immersive cooling technology may help with the transition to zero-emission Bitcoin mining Bitcoin Mining Council (BMC) member Hass McCook told Cointelegraph. McCook,...
Crypto finserv firm Bakkt to soon trade publicly on New York Stock Exchange
Bakkt Holdings, the digital assets management arm of Intercontinental Exchange (ICE), has announced it will soon become a publicly traded company on the...
Truly decentralized finance will be beyond siloed blockchains
“Yahoo users will not be able to interact via mail with Google email (Gmail) users,” — If tomorrow’s headlines sounded like this, the earth would come to...
Institutions are buying Bitcoin like it's late 2020
Bitcoin (BTC) reserves on derivatives exchanges have dropped to levels last seen before the May price crash.Data from on-chain analytics service CryptoQuant...
This bullish Bitcoin options strategy targets $50K without risk of liquidation
Long-dated Bitcoin options and bulls still make waves with their ultra bullish bets, but even they must admit that the possibility of (BTC) trading above...
Blockchain company Borderless Services Inc.: Forbes should be ‘under US ownership’
Blockchain holding group Borderless Services Inc. made headlines in late April amid reports that it had placed a $700 million bid to acquire business news...
XRP Climbs 12% In a Green Day
Investing.com - XRP was trading at $0.99418 by 13:54 (17:54 GMT) on the Investing.com Index on Monday, up 11.64% on the day. It was the largest one-day...
A $1 billion crypto fund could be on its way from Andreessen Horowitz
Building on its previous crypto involvement, VC firm Andreessen Horowitz is now reportedly gathering thunder for another fund, according to an article from...
Turkey may establish central custodian bank following alleged fraud at two major exchanges
Following the arrests of several employees at Turkey-based crypto exchanges Thodex and Vebitcoin last week, government officials are reportedly planning...
Former Mt Gox CEO Claims He Doesn’t Want Bankruptcy Billions
Mark Karpeles, the ex-CEO at Mt Gox, which once used to be the most significant BTC trading venue, said he does not look forward to receiving billions...
Brother of Infamous Pablo Escobar Launches DDX, Blaming US Gov’t For Creating BTC
Another known personality endeavors to enter the world of cyber assets. The sibling of a scandalous Colombian narco kingpin Pablo Escobar – the 71-year-old...