IBM issuing its first token on Stellar blockchain

15 May, 2018
by Jelmer van der Dussen
Breaking News
IBM issuing its first token on Stellar blockchain

IBM is issuing its first token using a public blockchain, according to a report of Forbes. The 'verde' token will be launched on the Stellar blockchain.

The verde token is developed in partnership with Veridium Labs Ltd., a carbon credits startup. With the verde token, companies that pollute the environment can compensate their damage by supporting a patch of Indonesian rainforest.

Blockchain offering manager of IBM Jared Klee says to Forbes: "We’re creating a fungible digital asset, a token which part of the goal is to create a market where people can buy, sell, trade and then redeem it for the underlying credits. By having a liquid market you open up a world of possibilities."

"Our engagement with Veridium will mark the first public IBM involvement in a token issuance on a public network", said Klee. By using a permissioned component through IBM's own blockchain technolgy the carbon credits will only be available to participants in accordance with regulatory requirements. IBM runs nine Stellar nodes and therefore can facilitate the permissioning while capitalizing on Stellar's public blockchain.

"Not only does that help create stability for the Stellar network", Klee said to Forbes. "But that allows us to work with Veridium as the issuer and create a point of review in the transaction flow before it gets committed to the ledger."

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Read more about:Stellar (XLM)

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