IBM uses Stellar for its first crypto token on the public blockchain

According to reports in Forbes and Bloomberg, International Business Machines (IBM) is issuing its first token using a public blockchain.. The company, which has developed various Blockchain-based projects, is now getting into the digital token game.

IBM is collaborating with Blockchain company Veridium Labs to turn carbon credits into digital currencies that can be traded on a decentralized exchange.. Jared Klee, who manages IBM’s Blockchain-based projects, said in an interview last week that the aim of the project is for companies and individuals to take their carbon footprints into account and minimize their impact on the environment. said it was to make it easier and cheaper. According to Klee, approximately $4.8 billion has been spent on carbon credits in the last 10 years.

Another IBM director of Blockchain, Bridget van Kralingen, announced the project at the Consensus 2018 conference organized by CoinDesk today.

The token will be supported by loans from Veridium’s sister company InfiniteEARTH for the development and management of the Rimba Raya rainforest in Borneo and can be purchased by companies looking to offset their carbon emissions. The token also facilitates the process by which companies can measure their environmental impact.. Verde carbon credit tokens are built on top of the publicly traded Stellar blockchain and track the process of calculating a company’s carbon emissions through a series of smart contracts and offset that pollution.

IBM’s other blockchain initiatives include Store chains like Walmart and food and shipping company A.P.. There is a project that tracks cargo movements with Moeller-Maersk.

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