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IBM To Use Stellar For Its First Crypto-Token On A Public Blockchain

Michael del Castillo

Developed in partnership with carbon credits startup Veridium Labs Ltd., the "verde” tokens will be issued on the Stellar blockchain, and are designed to give enterprises that pollute the environment a way to offset that damage by supporting a patch of Indonesian rainforest. While carbon credits in their own right are not new, the process of tracking the full extent of one’s pollution, then providing assurance that the money was actually used to replenish the environment is both time-consuming and opaque. By moving this process to an easily auditable blockchain, and tokenizing the credits in a similar way that a bitcoin tokenizes monetary value, IBM’s newly appointed blockchain offering manager, Jared Klee, believes a vibrant market could eventually be opened up to a much larger audience.