IBM and Veridium Join Forces to Bring Carbon Credits Onto the Blockchain: Interview with the Chairman of Veridium.
Veridium and IBM will collaborate to develop social and environmental impact tokens based on blockchain technology. During his presentation, Todd Lemons, Chairman of Veridium, will go over the specifics of this project as well as the collaboration with IBM.
1) What is Veridium and how does it work?
Veridium is developing a marketplace for environmental assets, also known as “Natural Capital,” which has the potential to become the world’s largest asset class.
2) What is the technology that underpins the Veridium system?
Using the Stellar blockchain, in collaboration with IBM, we are creating a trading platform for our digitised environmental assets, as well as a centralised repository for all of our digital environmental assets.
3) What are the most important services that Veridium offers its clients?
In addition to digitising environmental assets, we also provide a trading platform for the purchase and sale of those assets.
How does your collaboration with IBM work? 4) Can you tell us about your collaboration with IBM?
IBM is developing the Hyperledger Fabric core platform technology and integrating it with their enterprise supply chain management platforms, which are also built on Hyperledger Fabric.
5) Could you please provide us with a more detailed explanation of Carbon Credits and how they work?
There is no way for an individual or a company to completely eliminate their carbon footprint. Because of this, the only tool we have to reduce our carbon emissions to zero or lower is to support initiatives that result in net emissions reductions. After a company has reduced all of its emissions to the extent that it is able, it can purchase carbon credits from projects that have produced emissions reduction surpluses and apply those credits against its carbon deficit, effectively cancelling out or “offsetting” its carbon footprint and reducing its carbon footprint.
6) What is the size of the market for Environmental Blockchain Technology, what benefits will Veridium bring to this market, and who is Veridium intended for are some of the questions that need to be answered.
The current market for environmental assets is valued at approximately $200 billion dollars, but the majority of these assets are traded over-the-counter and are therefore illiquid in the financial markets. Considering that secondary trading in liquid markets typically generates a 50-fold increase in value over the primary market, it is easy to see the value potential of these markets if we create a trading venue that facilitates liquidity and price discovery.
7. We would like to know more about your significant token purchases from Brian Kelly Capital Management, BlockTower Capital, JCH Capital PTY, and Pink Sky Capital, and what this means for Veridium as a result of these transactions.
If we are to solve our planet’s sustainability problems, we must involve everyone, including the public and private sectors, corporations, and individuals themselves. A diverse range of market participants, including corporate end-users of these credits, market makers, traders, and even retail market participants, is required for the Veridium ecosystem to be in good health. As a result, the participation of this segment of the market is critical for success.
8) At what stage of development is the Veridium project currently at, and where do we see the company by 2020?
We anticipate launching the platform in the first quarter of 2019. Another company in our group is one of the largest producers of carbon credits, so we have a combined total of ten years of experience in the carbon trading market. Veridium Marketplace is expected to be trading a wide range of environmental assets by 2020, including carbon credits, water credits, forest conservation credits and biodiversity credits, among other things.
9) Could you tell us a little bit about your team and your customer service?
We have a very strong and dedicated team that is committed to our core mission and to the success of our company. Any inquiries received from individuals outside of our firm will be responded to as quickly as possible, and we will be available at any time of day or night to assist them.
10) How safe is Veridium, and would you be willing to discuss your legal and security measures with us? 10)
We place a high value on security, and this is reflected in the technology decisions we make both internally and in collaboration with Stellar Technologies. To give you an example, we have a variety of safeguards in place to protect user and account data, and we make every effort to offload custody of assets onto the Stellar blockchain whenever possible. As well, we recognise that security requirements differ from one user to the next. For example, our most stringent security levels require customers to digitally sign all of their transactions, ensuring that our platform is as secure as the Stellar blockchain itself.
11) Do you have any additional information that our readers should know?
Visit http://infinite-earth.com/ to learn more about our sister company Infinite Earth. On our website, www.veridium.io, you can also find a comprehensive list of Veridium-related news mentions.
