Despite falls in price since January, Stellar (XLM) has twice pulled itself up from a drop and analysts now predict general upward movement. This is in part helped by innovative partnerships with technology giants IBM and Veridium Labs, using blockchain technology to help solve climate change.
Big businesses, corporations and institutions need to account for their carbon emissions, but this is a complex issue to apply value to. This has made the desired carbon-offset credits a difficult project to put into reality, until Veridium Labs, part of the EnVision Corporation, teamed up with IBM to utilise the Stellar blockchain. Stellar acts as a digital ledger for tokens which represent the right to emit greenhouse gases. One token equals a one-ton mass of carbon dioxide. It’s hoped that this will make it easier to monitor carbon emissions, plus money from the token sale goes towards reforestation of Borneo, making it a double win for the environment.
While blockchain technology is being applied for real-life solutions like this, the security and speed of blockchain 3.0 is being improved, making this technology more stable, and ultimately more desirable. There are now rumours of Stellar (XLM) being in talks with central banks, in the hope that if and when central banks start issuing their own digital currencies, Stellar (XLM) will be the blockchain technology they use.
Back in June, CryptoDaily ran an article showing how Stellar (XLM) has very little real competition, because of the peer to peer platform it runs. Stellar (XLM) is being hailed as a gamechanger, and despite falling in price since January, the positive buzz surrounding these exciting partnerships has many investors waiting to dive in. If Stella (XLM) continues in this way, it shouldn’t dip below 3500 satoshis, and may even break 4000 before the latter half of 2018.
Robert is a keen investor with a particular interest in cryptocurrencies. He has been involved in the industry for many years, and because of this, has gathered a lot of knowledge surrounding this area. He studied English at university level and has a passion for writing. He loves being able to combine his two mains interests on a daily basis.