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IBM Partners with Stellar (XLM) to Release Carbon Credits

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Stellar

IBM announced a new partnership with Stellar (XLM) following the beginning of yet another market recovery. The plan is to use Stellar’s blockchain technology to distribute carbon credits in the form of tokens. Through mutual effort, IBM and Stellar might help reduce the damages done by pollution, and another consequence might include Stellar pushing out Ripple (XRP).

The crypto market has seen yet another period of recovery that allowed cryptos to take a break from the constant fight to simply survive and stay relevant. Stellar (XLM) is doing especially good, and its situation might improve even more thanks to IBM’s recent statement where it declared the intention of partnering up with the popular crypto. There is no doubt in anyone’s mind that this will significantly improve Stellar’s position, but some believe that it might even be enough to allow XLM to replace Ripple under the spotlight.

IBM partners with Stellar

Blockchain technology is rapidly improving and is already being accepted and used for various purposes all over the world. Many have discovered its potential to provide a new approach to existing problems. One such example includes the distribution of carbon credit via blockchain, which is exactly what IBM plans to do with Stellar’s technology.

Stellar and IBM have been known to partner up in the past as well. However, Stellar has never been a major part of any of IBM’s previous projects. This is something that will change this time, and not only will the crypto become a part of the project, it will become one of the vital parts as well.

Both sides will be able to benefit from the partnership greatly. IBM will have Stellar’s blockchain at its disposal, while XLM will gain even more exposure thanks to IBM’s reputation.

IBM’s carbon credit project

Carbon credits are one of new means to deal with the pollution issue and will be used for mitigating large amounts of damage that corporations are doing to the atmosphere. This is a new approach which is possible thanks to blockchain technology, and its decentralization. Previous solutions had much bigger issues, including cost, centralization, as well as a lot of bureaucracy. The blockchain is capable of eliminating all of these issues, which will largely speed up the process.

Through the partnership, Veridium Labs will be able to establish the credits’ value, and the blockchain will serve as the ledger for the credits. On the other hand, IBM’s responsibility will include facilitation of the trading.

BloomX wants Stellar as well

Stellar will be able to catch even more attention thanks to the recent announcement from BloomX, as well. The recent statement says that BloomX wants Stellar to be the one who will process their payments. They also added that Stellar’s network is perfectly compatible with their needs, which is why this crypto was chosen.

Stellar obviously has a lot going on for it at the moment. First, it got an excellent increase against the dollar, which was around 1.11%, and then it was chosen by BloomX. With the latest partnership with IBM, this crypto might be able to actually push Ripple away and take its place.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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