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Stellar Lumens Set to Host the First Token by IBM on the XLM Blockchain Network

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Despite the bear trend in the cryptocurrency market, the world has been paying more attention to Blockchain technology with more acceptance of this revolutionary technology set to come to fruition in the near future. After all, the fact that it’s an open source technology has whetted the appetites of industry-leading entities that are looking for a technological solution to better their service delivery. In fact, there is a growing concern that with more adoption of Blockchain technology and cryptocurrencies from banks and governments, the original principle of decentralization will be a thing of the past as more of these institutions dominate the Blockchain space.

Introducing accountability in Carbon credits through Blockchain

Among the world leading entities that are looking to adopt Blockchain technology and cryptocurrencies is IBM. Reportedly, IBM has plans underway to issue its first ever cryptocurrency token on a public Blockchain.

The project to launch the new token is in partnership with Veridium Labs Ltd (a carbon credit startup) and will lead to the creation of the “Verde” token which will be hosted on Stellar’s Blockchain. The purpose of the token will be to give companies that cause pollutions an opportunity to offset their pollution effects by attaching carbon credits to the token such that companies can gain by supporting environmental conservation efforts on a patch of Indonesian rainforest.

IBM’s new solution to an old problem

Granted, there is nothing new about carbon credits, however, the token will provide a means of tracking every detail that will reveal the full extent of the pollution caused by each company. By this virtue, there will be a means of accountability with the funds used to replenish the environment.

According to Jared Klee (the newly appointed IBM token initiative manager), IBM is,

creating a fungible digital asset, a token which part of the goal is to create a market where people can buy, sell, trade and then redeem it for the underlying credits. By having a liquid market you open up a world of possibilities.

He also added that a vibrant market could be the eventual result of the project and a much larger audience would be involved. Thanks to a series of smart contracts on Stellar’s Blockchain the Verde Carbon credit token will be able to account for the entire process of a company’s carbon emissions, therefore, allowing for a convenient and efficient way of offsetting pollution.

This new move by IBM will be the first ever public involvement by IBM in the token issuance space on a public network.

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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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Blogs

Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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