IBM announced the agreement with the “green” startup Veridium Labs about creating a token on the public blockchain Stellar. The latter will provide global program.
Under the agreement, the companies plan to tokenservice carbon credits certificates that the owner owns 1 ton nevypolnima carbon than acquires the right for its neutralization. These certificates allow enterprises with high CO2 emissions to compensate for the damages they cause to the environment. The proceeds from the sale of tokens will be aimed at restoring the rainforest area of 250 square miles (~648 sq km) on the island of Borneo, Indonesia.
Unlike traditional carbon credits, tokens, called “verde”, homogeneous, and can be bought or sold via a public network Stellar.
“For years we tried to reduce the harmful impact on the environment at every stage of the production chain,” said Todd Lemons (Todd Lemons), CEO and co-founder of Veridium Labs. “Our digital environmental assets created to help businesses and institutional investors to reduce their harmful effects on the atmosphere today and, perhaps, insulate themselves from potential risks related to responsibility for carbon emissions in the future.”
The project is fully ready to launch. Bridget van Kralingen (Bridget van Kralingen), first Vice-President of the Department of industrial platforms and blockchains IBM, said:
“Using public blockchain, we can help Veridium to create a new eco-friendly market are equally useful for business and the world. This is a great example of how the blockchain is changing the entire industry, in this particular case, introducing a much more efficient and transparent approach to accounting of carbon emissions and offset their negative impact, which will allow individuals and companies do to contribute to the improvement of the environment”.
IBM and Stellar have a relatively long history of collaboration. In October 2017 IBM announced the creation of the international payment system based on the blockchain Stellar. In addition, the IT giant has supported the project startup according to the introduction of Lightning.