IBM’s China division is working with a regional textile printing firm to to develop a platform for trading digital assets tied to carbon emissions.
The company is working with Zhonghe Technology Co., a textile firm based in Putian, China, to develop the platform. The carbon asset trading project was unveiled at the World Internet Conference in Beijing, an event being held this week which has featured a keynote speech on cybersecurity from Chinese President Xi Jinping.
Local sources report that the trading trial is aimed at providing a means for tracking carbon emissions among some of the country’s biggest polluters, including those in the textile manufacturing business.
IBM signalled that it plans to continue to push for blockchain projects in China. Liming Chen, chairman for IBM Greater China Group, said in a statement:
“IBM is committed to providing [an] innovative enterprise-class blockchain technology platform and solutions to help Chinese enterprises promote the blockchain ecosystem.”
The test is the latest for IBM in China. The technology firm has worked with other firms including credit card company China UnionPay and Walmart’s regional subsidiary to develop applications. Chinese automaker Wanxiang, among other major companies in the country, is among those that have also held discussions with IBM about investigating the tech.
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