IBM has announced plans to use the Stellar blockchain in a joint venture with Veridium Labs. The platform will allow for carbon credits to be traded as tokens on the public blockchain.

Whilst carbon credits are themselves nothing new, a decentralised market could provide much-needed transparency to the process of offsetting carbon emissions. This announcement may be the first in series of new projects by IBM using the Stellar blockchain.

In October last year, the tech giant announced it was working with a group of banks to create cross-border payment solutions using the Stellar network. Then, in April, Jesse Lund, IBM’s VP of Blockchain Technologies, hinted at more announcements to come.

The Veridium partnership will be the first time IBM is creating a token on a public network. While the network will be public, it won’t be entirely open, as there will still need to be a permissioned component.

An IBM spokesperson said the model needed to be “public / permissioned” as some aspects of access to the platform would need to be restricted for regulatory reasons. The growing importance of Stellar to IBM is significant. Read more from…

thumbnail courtesy of