Thanks to this latest tweet posted by Sidney Vollmer from Cardano Foundation, we were able to learn that Samsung will get exposure to Cardano through its recent partnership with blockchain planting management system Veritree.
Samsung to get exposure to Cardano
The American affiliate of the company plans to plant two million mangrove trees in Madagascar, an East African island nation. Mangroves are known to store up more than ten times more carbon dioxide than other tropical forests.
Meaning: Samsung will now get exposure to #cardano
— Sidney Vollmer (@SidneyVollmer) January 4, 2022
The collaboration was made public at the CES 2022 in Las Vegas. Samsung is also moving to combat climate change by investing in cutting-edge technologies. According to Samsung’s head of corporate sustainability, investing in innovative technology is “vital.”
?Another great initiative powered by the #Cardano #blockchain.@SamsungUS to plant 2 million trees in Madagascar by the end of the first quarter of 2022 in partnership with @veritree_, a Cardano blockchain-based climate solutions platform.https://t.co/vtTUfTmqqS #Sustainability
— Cardano Community (@Cardano) January 4, 2022
Investing in technical innovations that reduce waste and enhance efficiency, as well as natural solution alternatives, is critical in the struggle against climate change.
Cardano and Veritree team up for the project
Veritree’s reforestation verification data will be recorded on the Cardano blockchain. The system makes it feasible to trace data from planting sites, connect each donation to the area of land it helped to restore.
The Cardano Foundation launched the world’s first Initial Tree Offering (ITO) last year, in a collaboration with Veritree. 1 ADA token may be donated to receive 1 Tree Token, which represents one tree. The ITO has already received more than enough money to plant 553,900 trees.
Donors who give at least 500 ADA will get digital planting certificates and an “NFTree Art.” People who donate more than 100,000 ADA tokens will be gifted with a unique NFTree artwork and they will see their name on the map.
According to a roadmap released by Veritree, the tree planting program will continue through the end of 2022. Ultimately, Veritree plans to plant a billion trees by 2030.