IBM China wants to use blockchain to cope with environmental changes

Rage Comment : IBM is working with many companies around the world to promote blockchain technology and establish its position as a global technology leader. Recently, IBM China has been working with Zhonghe Technology Co., Ltd., a Chinese textile printing company, to develop a digital asset trading platform that tracks carbon emissions to help Chinese companies promote the blockchain ecosystem. Earlier, IBM worked with China UnionPay and Walmart to develop related applications, and also discussed technology development-related matters with Wanxiang Group. The development of blockchain in China will intensify under the promotion of IBM.

Translation: Nicole

IBM China is working with a local textile printing company to develop a digital asset trading platform related to carbon emissions.

The company is developing the platform in partnership with Zhonghe Technology Co., Ltd., a textile company based in Putian, China. The carbon asset trading project was unveiled at the World Internet Conference in Beijing this week, which was themed on cybersecurity by Chinese President Xi Jinping.

According to local sources, the purpose of the trading trial is to provide a way to track carbon emissions from the country's biggest polluters, including the textile manufacturing industry.

Chairman of IBM Greater China Group: Chen Liming

IBM said it will continue to promote blockchain projects in China. Chen Liming, chairman of IBM Greater China Group, said in a statement:

“IBM is committed to providing innovative enterprise-level blockchain technology platforms and solutions to help Chinese companies promote the blockchain ecosystem.”

The test is the latest by IBM in China, where the technology company has worked with other companies, including credit card company China UnionPay and Walmart’s regional unit, to develop apps. Chinese automaker Wanxiang Group, among other large Chinese companies, has also discussed developing the technology with IBM.