Computer giant IBM announced an agreement with the Vertex Labs start-up, together with which he intends to issue a new token on the Stellar blockchain. About this writes CCN.
IBM and Veridium plan to tokenize carbon emission quotas, which are used by companies whose activities are associated with significant risks of environmental pollution. Revenues from the sale of Verde tokens will go to restore 650 square kilometers of tropical forests on the island of Kalimantan.
Quotas for carbon emissions are used for a long time, however, their assessment and accounting using traditional methods involve some difficulties. The Verde token will measure quotas and transfer them through the Stellar blockchain system.
“Over the years, we have tried to eliminate the negative impact on the environment at every stage of the production chain, but the previous solutions implied significant complexity and costs,” said Todd Lemons, CEO and co-founder of Veridium. “Our new digital asset is designed to help companies and institutional investors buy and use carbon emission quotas to smooth out the impact on the environment today and protect themselves from potential risks in the future.”
It is noteworthy that the initiative is not a pilot project or proof of concept. It is also important to note that not private blockchain is used to implement the tasks. IBM will use its previous links with Stellar and will provide for the transfer of tokens through a public blockchain, and at the same time, access to the program around the world.
“We can help Veridium to create a new viable marketplace with a public blockchain, which in turn will have a positive impact on business and the world,” said Bridget van Kralingen, IBM’s senior vice president of industrial platforms and blockchain. “This is an excellent example of how whole industries undergo changes under the influence of the blockchain. In this case, we managed to create a much more effective and transparent way of accounting carbon emission quotas and enable companies and individuals to have a positive impact on the environment. “