Wednesday, 16 May 2018 05:24

Stellar & IBM Team Up for Carbon Credits

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IBM hopes to transform the carbon credit market through a partnership with Stellar (XLM) and the Blockchain startup, Veridium. The partnership's goal is to make it easier for

companies to offset environmental footprints by transforming "carbon credits into a new type of fungible digital asset that can be redeemed and traded on the Stellar network with less friction."

"For years, we've been trying to mitigate environmental impacts at every point in the value chain, however previous solutions still presented significant complexities and costs. Our work with IBM is the first step in dramatically simplifying the accounting and offsetting processes, and therefore ultimately helping reduce costs," said Todd Lemons, CEO & Co-Founder of Veridium. "Our digital environmental assets are designed 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." Click here for full article

IBM brings signifant expertise and experience to this project and of course their name. This should have a positive effect on the price of Stellar (XLM) in the long term as it is another real world use case and with potentially large sums of money involved. Yet another example where blockchain techonology is simplifing current systems and processes, reducing costs and saving time.

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