Veridium Labs Ltd, the environmental blockchain tech company that has partnered with IBM to develop tokenized carbon credit markets, yesterday announced strategic purchases from crucial lead token buyers. The group includes: Brian Kelly Capital Management, Block Tower Capital, JCH Capital PTY, and Pink Sky Capital. The 5 million USD investment comes just ahead of the onset of Viridium’s presale, scheduled for October 1st, 2018.
The early adopters’ community, with respect to Veridium Labs Ltd., embodies the organization’s own profoundly experienced team. The group of serial entrepreneurs and venture capitalists announced earlier that they are enthusiastic to further innovate and support the company’s goal of revolutionizing the carbon credit industry. Most significantly, they intend to achieve this by implementing immutable blockchain innovation.
The unique solution entailing the issuing of carbon credits, developed by Veridium, will revolutionize them into a new kind of tokenized digital asset. Most significantly, the latter has the capacity to be traded as well as be put into use with less hassle. Consequently, the above-mentioned solution addresses problems related to using carbon offset today. For instance, price variations, liquidity, multiple verification standards, and expiration dates. Undoubtedly, the conventional process with regard to the offset of corporate carbon footprints can be taxing. The company’s blockchain-based solution automates this process. As such, the reconciliation of transactions is made easy.
“The prominence of our lead token buyers in both the crypto and financial industries, shows not only the viability of Veridium, but also highlights the importance of the goals we are trying to achieve,” said Todd Lemons, Chairman of the Veridium Foundation. “Having prominent funds such as BlockTower Capital and Brian Kelly support Veridium is a strong confirmation of our progress as we execute Veridium’s vision of transitioning to a sustainable economy.”
About Veridium Labs Ltd.
The firm is an environmental blockchain company producing disruptive sustainability solutions for Fortune 500 companies. Utilizing a set of proprietary carbon accounting protocols developed by EcoSmart Labs, Veridium has created a tokenized carbon offset solution. Most importantly, the solution will bring new liquidity to environmental trading markets. Moreover, it will create simplified carbon accounting as well as offsetting for enterprise clients. The protocols also offset the carbon emissions associated with the digital token itself. As such, it mitigates the growing concern over the carbon emissions associated with the blockchain industry.
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