Connect with us

Blogs

IBM to Issue Token On Stellar (XLM) Blockchain To Offset Climate Change

Published

on

Stellar
READ LATER - DOWNLOAD THIS POST AS PDF

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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

Continue Reading

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

Continue Reading

Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

Published

on

crypto credit cards
READ LATER - DOWNLOAD THIS POST AS PDF

It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

Continue Reading

Elite