The IBM made waves in the crypto market today. To top it off, the International Business Machines Corp. took Stellar along with it for the ride. IBM and Stellar have teamed up, with IBM issuing a token using a public blockchain.
IBM and Stellar
This is IBM’s first time issuing a token using a public blockchain. Which blockchain, you ask? The Stellar blockchain, of course! IBM and Stellar have also been working alongside Veridium, a carbon credits startup, to develop the token. The crypto token’s name is “Verde.”
At Consensus 2018, Todd Lemons of Veridium took to stage, with Van Kralingen. He said the following:
Veridium's Todd Lemons joins Van Kralingen on stage: "We plan on using IBM blockchain technology to issue and manage tokens on the Stellar network."#Consensus2018 #BlockchainWeekNYC[1][2]
— Annaliese Milano (@AnnalieseMilano) May 15, 2018[3]
The collaboration between Veridium, IBM and Stellar makes sense. Veridium makes environment-related digital currencies, and IBM wants to take carbon credits and turn them into virtual tokens. Veridium will be able to help IBM achieve this goal. As for Stellar, the tokens that Veridium and IBM create together will be built on top of Stellar’s public blockchain.
According to Jared Klee, IBM’s blockchain offering manager, IBM is creating a digital asset, and IBM wants to create a marketplace “where people can buy, sell, trade” and, eventually, “redeem it for the underlying credits.”
What Does Stellar Think?
So, IBM and Stellar are working together, because IBM will be using Stellar’s public blockchain. We know that because of various reports and because of what was said at Consensus 2018. However, Stellar has yet to post anything on social media. Speaking of
