IBM to Help Tokenize Carbon Credits on Stellar Blockchain

IBM to Help Tokenize Carbon Credits on Stellar Blockchain”

In the partnership between Veridium and IBM, the two companies will sell carbon offset tokens on the stellar blockchain.

According to a report on May 15, 2018, Veridium Labs, a carbon credit company, and IBM have entered a partnership that will see a unique "carbon credits" token developed on the Stellar blockchain.

To give an idea of the possible size of a tokenized carbon credits market, a recent survey of just 139 companies by the Ecosystem Marketplace found that 63.4 million tons of carbon dioxide resulted in a total market value of $191.3 million in carbon credits. Carbon credit systems also let companies pay others that do things like plant forests to offset their carbon emissions. The International Panel on Climate Change (IPCC) introduced their carbon credit proposal as a market-oriented mechanism to slow worldwide carbon emissions.

"Blockchain based digital assets, or tokens, enable innovative ways to buy and use the underlying carbon offset since they can move and settle swiftly across networks", IBM said of the project.

Carbon credits are not entirely new in their own right, but the process used in tracking the full extent of one's pollution, then providing a guarantee that the funds will actually go towards replenishing the environment is now hard to do. "Our digital environmental assets are created to help companies and institutional investors purchase and use carbon credits to mitigate their environmental impacts today, and even hedge their potential carbon liabilities risks in the future".

All three companies will work together to develop the token called Verde.

Veridium Labs is an environmental financial technology company that is actively working on solving a hard problem concerning the ways to trade carbon offset credits in an open market.

IBM has previously worked with blockchain projects, but their new collaboration with Veridium Labs will entail the first time the company is getting involved in developing a cryptocurrency. This is a sister company of Veridium Labs which counts PwC and Microsoft among its customers. It sold its personal computing business to Chinese company Lenovo in 2005.

The project shall be led by Jared Klee, IBM's blockchain manager, who adds the use-case can open a larger, more vibrant market that understands and realizes the potential of blockchain technology. It runs on light and costs less than ten cents to manufacture.

As it is known, IBM and Stellar have been already collaborating to create a global payment network powered by blockchain. Stellar will provide the digital ledger for the transactions while IBM will deal with technical aspects of trading activities and tokens management. Ripple is also far more centralised than Stellar.

Like this



17 May 2018
Congress should drop Rahul Gandhi as PM candidate, says Guj BJP chief
He said in case of a road accident in Israel, medical facility reaches within minutes. "This system would be implemented in Haryana", he added.

17 May 2018
Syfy's Deadly Class adaptation gets a first-look featurette
The first look trailer doesn't show a ton of the plot line, but if you've read the comic already, you have the general idea. The network also released a great feature for their upcoming adaptation of Image Comic's Deadly Class .

17 May 2018
Watch Hilary Duff Savagely Shame Her New York Neighbor
The singer slams her party boy neighbor for his alleged all-night weed smoking. While Duff concluded the rant by advising Mr. Addison does come from a wealthy family.

17 May 2018
Stocks to Watch For: NVIDIA Corporation (NVDA), Comcast Corporation (CMCSA)
Christopher Lord increased its stake in Nvidia Corp ( NVDA ) by 161.87% based on its latest 2017Q4 regulatory filing with the SEC. Price target estimates can be calculated using different methods, and they may vary depending on the individual analyst.

17 May 2018
Crossmark Global Holdings Inc. Has $27.47 Million Stake in Verizon Communications (VZ)
It is positive, as 57 investors sold VZ shares while 662 reduced holdings. 141 funds bought positions and 592 increased positions. Sawgrass Asset Management Llc has cut its stake in Verisk Analytics Inc ( NASDAQ :VRSK) and also reduced its holding in Nike Inc.

17 May 2018
Salah Reveals What Mourinho Said To Him This Season
Both Liverpool and Real will have to wear the kits they have worn for the rest of the 2017/18 campaign due to Uefa's rules. James Milner is expected to travel with the squad to Spain this week despite missing Sunday's game with a muscle injury.

17 May 2018
Collegium defers its decision on Justice Joseph
Thereafter, last week, it had unanimously agreed to re-recommend him, but had made a decision to take the final call on May 16. While returning the name of Justice Joseph, the government cleared Justice Malhotra's appointment.

17 May 2018
Iniesta to continue professional career either in Japan or China
Iniesta, 34, will bid farewell to Barcelona when he plays his final game for his boyhood club on Sunday against Real Sociedad. Iniesta has made 43 appearances in all competitions this season, helping Barca win La Liga and the Copa del Rey.

17 May 2018
WWE Raw Likely To Stay On USA Network
However, NBCU is reportedly focused on keeping Raw , and WWE is expected to receive three times its current value for the show. NBCU took over the rights for SmackDown in 2010, and started airing the show on SyFy before moving it to USA Network in 2016.

17 May 2018
Cleanup Under Way After Deadly NY Storm
The 80-year-old woman was driving alone in a 2018 Hyundai during the powerful storm when a tree fell on top of her vehicle. Central Hudson Gas & Electric Corp. reported 78 mph wind gusts on Tuesday and about 1,000 lighting strikes per hour.