IBM is Releasing an Ecological Token on the Stellar Blockchain

Stellar is a very promising platform, in many ways alternative to Ethereum. It is no coincidence that its currency, XLM, is in eighth place by market capitalization. It can not even be a coincidence that it was chosen by IBM as a platform to issue its own token.

In fact, often the new tokens are released via Ethereum, in the classic ERC20 format, but IBM instead chose Stellar.

The partnership between IBM and Stellar was signed long time ago, and  it has contributed to the doubling of the value of XML. This time it goes far beyond simple collaboration.

In fact, this IBM initiative does not seem to be a test or a pilot program: the tokens will not be managed by a private blockchain available only to selected users. Instead, the tokens, once issued, will be public and freely tradable on the equally public network of Stellar. In short, it seems that IBM is doing really seriously with the issue of this token.

Just yesterday, the partnership with Verityum Labs, a fintech startup, was announced to release these tokens that should be used by polluting companies within a credit exchange system to offset the damage caused by their activities.

The proceeds from the sale of tokens will then be used to reforest a 250-square-kilometer rainforest area on the island of Borneo in Indonesia.

The systems of exchange of “environmental credits” actually existed for some time, but are based on fiat currencies. By using tokens on the Stellar network it will make this exchange extremely easy and immediate.

In this regard, Veridium’s CEO and co-founder, Todd Lemons, said:

“For years, we have tried to mitigate environmental impacts at every point in the value chain, yet the previous solutions still showed considerable complexity and cost. Our digital resources are designed to help companies and institutional investors purchase and use carbon credits to mitigate their environmental impacts and cover their potential liability risks in the future. “

So while Veridium Labs will take care of the environmental and financial management of the project, IBM will deal with the technical / IT one, including the token issue.

It should not be forgotten that IBM, together with Oracle, are the two main IT giants that have already started working specifically on blockchain-based solutions.

Bridget van Kralingen, senior vice president of IBM’s industry and blockchain platforms, said, “Using a public authorized blockchain network, we can help Veridium to create a new sustainable market that is good for business and the world.”

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