The IBM made waves in the crypto market today. To top it off, the International Business Machines Corp. took Stellar along with it for the ride. IBM and Stellar have teamed up, with IBM issuing a token using a public blockchain.
IBM and Stellar
This is IBM’s first time issuing a token using a public blockchain. Which blockchain, you ask? The Stellar blockchain, of course! IBM and Stellar have also been working alongside Veridium, a carbon credits startup, to develop the token. The crypto token’s name is “Verde.”
At Consensus 2018, Todd Lemons of Veridium took to stage, with Van Kralingen. He said the following:
— Annaliese Milano (@AnnalieseMilano) May 15, 2018
The collaboration between Veridium, IBM and Stellar makes sense. Veridium makes environment-related digital currencies, and IBM wants to take carbon credits and turn them into virtual tokens. Veridium will be able to help IBM achieve this goal. As for Stellar, the tokens that Veridium and IBM create together will be built on top of Stellar’s public blockchain.
According to Jared Klee, IBM’s blockchain offering manager, IBM is creating a digital asset, and IBM wants to create a marketplace “where people can buy, sell, trade” and, eventually, “redeem it for the underlying credits.”
What Does Stellar Think?
So, IBM and Stellar are working together, because IBM will be using Stellar’s public blockchain. We know that because of various reports and because of what was said at Consensus 2018. However, Stellar has yet to post anything on social media. Speaking of Stellar, though, XLM isn’t doing so hot today. That said, one can’t be too hard on Stellar (XLM), as all of the top-ten coins are down in the past twenty-four hours.
Stellar (XLM) is currently trading at $0.354512. This puts the coin down 5.37% in the past twenty-four hours. XLM is ranked as the 8th largest virtual currency, behind Cardano (ADA).
IBM and Stellar | Community Response
Is the crypto community talking about IBM and Stellar and the Verde tokens? I wouldn’t call it trending news on Twitter, but the news is definitely getting shared. Here are a couple tweets that stuck out:
— Jae W. Kim (@iamJaekwondo) May 15, 2018
#xlm Veridian announced its gone live with stellar and ibm 👍🚀🚀🚀🚀 and yesterday stellar said going live with a remittance company this week 🚀🚀🚀🚀🚀🚀 just now got to wait for almighty rise
— lionel (@lionel13661409) May 15, 2018
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