Samsung worked with Cardano Foundation partner Veritree as part of a land rehabilitation effort
According to a tweet posted by Sidney Vollmer of the Cardano Foundation, technology giant Samsung will be able to touch Cardano through a recent partnership with the blockchain planting management system Veritree.
Wow! @Samsung Land Rehabilitation Efforts – 2 Million Trees Planted This Quarter @veritree, Live in our blockchain!
Meaning: Samsung #cardano
— Sidney Vollmer (@SidneyVollmer) January 4, 2022
The American subsidiary of the South Korean giant aims to tackle climate change by planting 2 million mangrove trees in Madagascar, an island country in East Africa.
Mangrove forests are estimated to store more than 10 times more carbon dioxide than other tropical forests.
The partnership was announced at the annual Consumer Electronics Show (CES) in Las Vegas.
? # Cardano #blockchain..@SamsungUS Plant 2 million trees in Madagascar by the end of the first quarter of 2022 @veritree_, Cardano blockchain-based climate solution platform. https: //t.co/vtTUfTmqqS #sustainability
— Cardano Community (@Cardano) January 4, 2022
In a statement, Mark Newton, head of corporate sustainability at Samsung Electronics America, said investing in innovative technologies was “essential” in the fight against climate change.
Investing in innovations such as improving efficiency and minimizing waste in combination with nature-based solutions is essential in the fight against climate change.
Partnership between Cardano and Veritree
Veritree reforestation verification records are stored on the Cardano blockchain. This technology makes it possible to validate data from plantations and link individual donations to areas of land that helped restore.
Last year, the Cardano Foundation launched its first Initial Tree Offering (ITO) with Veritree. Users can donate one ADA token to receive one tree token that represents one tree. At the time of the press, ITO raised enough donations to plant 553,900 trees.
Users who donate more than 500 ADAs will receive a digital planting certificate and “NF Tree Art”.
Forking 100,000 ADA tokens, the “Hybaler” will be able to retrieve “globally unique” NFTree art and its names on the map.
According to the roadmap presented by Veritree, the tree planting session will continue until the end of 2022.
Ultimately, Veritree plans to plant a billion trees by 2030.