HONG KONG--(BUSINESS WIRE)--Veridium Labs Ltd (https://www.veridium.io/), the environmental blockchain technology company that has partnered with IBM to build tokenized carbon credit markets, announces today strategic purchases from key lead token buyers: Brian Kelly Capital Management, BlockTower Capital, JCH Capital PTY, and Pink Sky Capital. The investment of $5 million comes just before the start of Veridium’s presale, scheduled for October 1st.
Veridium’s community of early adopters mirrors the company’s own highly experienced team. The announced group of serial entrepreneurs and venture capitalists are eager to accelerate innovation and support Veridium’s goal of transforming the carbon credit industry through immutable blockchain technology.
Veridium’s unique solution for issuing carbon credits will transform them into a new type of tokenized digital asset that can be traded and utilized with less friction. The Veridium solution addresses problems associated with using carbon offsets today such as liquidity, expiration dates, price variations, and multiple verification standards. Whereas the traditional process of offsetting corporate carbon footprints can be arduous, Veridium’s blockchain solution automates this process and makes transaction reconciliation easy.
“The prominence of the 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.”
Veridium is an environmental blockchain company producing disruptive sustainability solutions for Fortune 500 companies. Using a set of proprietary carbon accounting protocols developed by EcoSmart Labs, Veridium has created a tokenized carbon offset solution that will bring new liquidity to environmental trading markets and create simplified carbon accounting & offsetting for enterprise users. The protocols also offset the carbon emissions associated with the digital token itself, thereby mitigating the growing concern over the carbon emissions associated with the blockchain industry.