This week has been a beehive of activity in the crypto-verse beginning with the Consensus Summit currently ongoing in New York and is accompanied by news that popular South Korean exchange, Upbit, has conducted an internal audit exonerating the exchange from any wrongdoing. Also to note is that today’s markets are not too pretty in terms of gains. Everything is in the red, including Stellar (XLM) that should be basking in the news that IBM will issue a token on its blockchain to help offset climate change.
The current market analysis puts XLM at the value of $0.323 and down 12.24% in 24 hours. The rest of the market is also in the red. Bitcoin (BTC) is at the low $8,000 levels and currently trading at $8,248. Ethereum (ETH) is down below $700 and currently trading at $690. Ripple (XRP) is down 8% in 24 hours and currently trading at $0.68.
It is with this market background that Stellar might be moving to better days with the earlier mentioned announcement by IBM which has been known to being a Stellar partner for quite some time. The partnership was confirmed back in October when IBM and KlickEX chose Stellar to power the future of cross-border payments. IBM is currently running 9 stellar nodes for this purpose.
IBM will then use the Stellar blockchain, in partnership with an environmental fintech startup called Veridium labs, to tokenize carbon credits in a bid to track the pollution emitted from big companies and to attempt at offsetting these damages to the environment. Proceeds from the token sale will be used to reforest a 250 square mile piece of rain-forest on the island of Borneo in Indonesia. The new token can be redeemed and traded on the Stellar blockchain simplifying the carbon-credit process. Companies and institutional investors can buy the same carbon credits using the tokens on the Stellar blockchain, allowing for easier tracking and redemption on the blockchain.
A carbon credit is defined as a permit which allows a country or organization to produce a certain amount of carbon emissions and which can be traded if the full allowance is not used. If a set amount of carbon is not emitted, the owner of the carbon credit can redeem it using the token.
With this news and the current ongoing Consensus Summit in New York, blockchain technology and cryptocurrencies will assist in mitigating the progression and finally the end of global warming. The pioneer crypto for reducing global warming will be Stellar (XLM). This mission is in line with the vision of the Stellar foundation in that it brings together two companies, IBM and Veridium, to help solve a real-life issue threatening our existence on this earth.
For the latest cryptocurrency news, join our Telegram!
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.
Image courtesy of Pexels
How Can Foreigners Get Loans in Singapore
Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.
At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary.
What defines a foreigner in Singapore?
A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.
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, unlock their full potential, and improve trading performance. Cryptocurrency trading can…
CoinFlip Scores Big with BRD Wallet Partnership
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.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…