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Tag Archives: stellar

Kik launches beta product after $100 million ICO

Kik made waves last year after a successful $100 million ICO . Now the company has released its first beta product related to its Kin token. Called Kinit , it’s a simple wallet that enables users to earn, store, and spend its tokens. “Kinit is a fun, easy way to earn Kin, a new cryptocurrency made for your digital life. Earning Kin is just like playing a game, only better, because you get rewarded for completing fun daily activities like surveys, quizzes, interactive videos and more,” reads the Google Play Store description. You can download the app for Android here . The Kin token is unique for a few reasons. First it is not a traditional ERC-20 token and is instead uses Ethereum for liquidity and the on the Stellar network to improve transaction speed. Further, the company is spending a great deal – about $3 million – to get developers to develop on the token through its KinEcosystem site. The Kinit app is the first effort to get normal users to adopt the tool. The app makes it possible for users to generate a few dollars in value per day and then exchange those dollars for gift cards and perks. According to CCN , Kik has created a product without a business model and instead it wants to drive the adoption of the token through giveaways. “Kinit is the first publicly available app dedicated to Kin. Our goal with Kinit is to get Kin into more consumers’ hands

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Veridium Labs teams with IBM and Stellar on carbon credit blockchain

Veridium Labs has been trying to solve a hard problem about how to trade carbon offset credits in an open market. The trouble is that more complex credits don’t have a simple value like a stock, and there hasn’t been a formula to determine their individual value. That has made accounting for them and selling them on open exchanges difficult or impossible. It’s a problem Veridium believes they can finally solve with tokens and the blockchain. This week the company announced a partnership with IBM to sell carbon offset tokens on the Stellar blockchain. Each company has a role here with Veridium setting up the structure and determining the value formula. Stellar acts as the digital ledger for the transactions and IBM will handle the nuts and bolts of the trade activity of buying, selling and managing the tokens. Todd Lemons, CEO and cofounder of Veridium Labs, which is part of a larger environmental company called EnVision Corporation , says that even companies with the best of intentions have struggled with how to account for the complex carbon credits. There are simpler offset credits that are sold on exchanges, but ones that seek to measure the impact of a product through the entire supply chain are much more difficult to determine.  As one example, how does a company making a candy bar source its cocoa and sugar. It’s not always easy to determine through a web of suppliers and sellers. Moving forward To partly solve this problem, another Envision company, InfiniteEARTH developed a way to account for them called the Redd+ forest carbon accounting methodolog y. It is widely accepted to the point that it has been incorporated in the Paris Climate Agreement , but it doesn’t provide a way to turn the credits into what are called fungible assets, that is an easily tradable one. The problem is the value of a given credit shifts according to the overall environmental impact of producing a good and getting it to market. That value can change according to the product. Jared Klee, blockchain manager for token initiatives at IBM, says that buying and accounting for Redd+ credits on the company balance sheet has been a huge challenge for organizations

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