Blockchain Fan IBM Helps Issue a Digital Coin for First Time

International Business Machines Corp., which has developed several blockchain-based projects, is now getting into the digital token game.

IBM is partnering with blockchain company Veridium Labs Ltd. to transform carbon credits into digital coins that can be traded on a decentralized exchange. The tokens will be issued and managed on the Stellar network.

 The purpose of the project is “to make it easier and cheaper for companies and individuals to account for their footprint and neutralize the impact they have on the environment,” Jared Klee, who manages blockchain projects at Armonk, New York-based IBM, said in an interview last week. About $4.8 billion was spent in the past 10 years on carbon credits in the private market, according to Klee.