On May 17th, Stellar (XLM) alongside with the majority of coins and tokens circulating the market is yet again being traded in the green. After a couple of days of “cuts” in the market, our favorite currencies can take a break, at least for today by far as the market is trending up in a bullish trend. However, Stellar has more interesting news to share with the public in oppose to the news that XLM is trading in the green again while collecting rises, which could potentially sky-rocket XLM to the moon in the following months. Moreover, it seems that the media is talking about Stellar claiming to be even able to push Ripple out of the spotlight due to the latest project that IBM is using Stellar for. Let’s see what this project is about, as well as what IBM has installed for XLM.
IBM and Stellar Partnership
Stellar (XLM) has acquired the partnership with IBM earlier in the past; however, it seemed that IBM wasn’t including Stellar and its native currency XLM in none of its projects by far.
However, before mentioned situation is now changing as Stellar has been directly involved in one of IBM’s latest projects. Earlier today, there was an official announcement released on Medium, stating that IBM in collaboration with Veridium labs, will use Stellar (XLM) for their latest project.
Given the fact that IBM stands for a true tech giant in the world of the tech industry, Stellar might get the much-needed attention in the following days, which would most certainly contribute to its exposure.
The project was announced as a way of putting the long-talked-about carbon credits to use and in this case, scenario, which came off as the best possible for XLM, Stellar will be used as a platform on which the mentioned carbon credits will be distributed.
Although there is no further info about the IBM’s upcoming projects that are related to Stellar, there is a strong belief that this project is representing only a single venture in the row of different ventures for which IBM is planning on using Stellar for.
The first time that we ever heard IBM correlating Stellar with the ventures of this company, was in October last year (2017) when IBM announced that they are negotiating with several banking institutions in order to get Stellar to work with cross-border payments.
That being said, it is a realistic case, if not factual, that IBM will surely be using Stellar for more than just one project. With bringing Veridium to the table as a part of the mentioned venture, releasing the carbon credits in form of tokens that would be deployed to the Stellar network will be the first time ever that IBM has designed a token that is to be launched on a public network.
However, although the carbon credits will be released on the public chain, there will still be some restrictions included, that way making it not-so-public.
Now, Stellar might be ready to push out Ripple (XRP) as indicated by one of IBM’s representatives, and the reason for having these two currencies is the simple fact that both Stellar and Ripple share the goal of connecting people and banking systems. Now with IBM tech giant behind them, Stellar might as well be ready to work on pushing out Ripple out of the spotlight.
BloomX Chooses Stellar
Besides from having IBM announcing that Stellar (XLM) will be officially used as a hosting platform for carbon credits, Stellar has had another industrial breakthrough. Apparently, two days ago, BloomX has announced that they have decided to go for Stellar as their choice for processing their payments.
They have also added to their statement that Stellar network makes up for a perfect match for their needs, so they have decided to use Stellar for their transactions.
Stellar and the Market
Following the latest change in the market, we can see the majority of crypto assets going in the green again alongside with Stellar. As XLM is keeping up with the trend as well, we can see it going up against the dollar by 1.11%, which although a minor gain showcases that the market is slowly being pulled out of the red zone.
In addition to trading up against the dollar, Stellar is also going up in oppose to BTC, trading up in the green but below 1% at the current moment. After the latest change in its price, Stellar (XLM) can now be purchased at the price of 0.33$ per one unit. With evident progress in further development and with trading near its all-time high of around 0.70$ per one unit, it is probable that Stellar might take over the spotlight in the following period.