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.
Veridium to Use IBM Blockchain Technology to Create Social and Environmental Impact Tokens. IBM’s engagement with Veridium will mark the first public IBM involvement in a token issuance on public network.#Consensus2018 #IBM #BlockchainWeekNYC https://t.co/LMjittKRcI
— Veridium Labs (@VeridiumLabs) May 15, 2018
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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
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