Freedom Holdings agrees to acquire blockchain tech for carbon credit trading

Freedom Holdings (OTCPK:FHLD) signs a binding letter of intent to acquire Carbon Zero Asset Management, a blockchain-based asset management company, which would shift Freedom's business focus to building an ethereum-based blockchain economy. Under terms of the agreement, Freedom Holdings (OTCPK:FHLD) will acquire 100% of COzero's common stock in a stock exchange transaction. COzero's blockchain technology is intended to allow fractional ownership of carbon credits. That would give companies and individuals the ability to offset their carbon footprint by paying businesses and landowners that capture or reduce CO2. Terms of the transaction weren't disclosed. In 2018, IBM (NYSE:IBM) was collaborating with Veridium Labs to turn carbon credits into a fungible digital asset that could be traded on the Stellar network.