Samsung and Cardano meet through a new partnership


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Tech giant Samsung will meet with Cardano after Samsung’s recent partnership with the Cardano blockchain-based farm management system Veritree, according to a tweet posted by Sidney Vollmer of the Cardano Foundation.

The American company “Veritree”, a subsidiary of the South Korean giant, aims to tackle climate change by planting two million tropical “mangroves” on the island of Madagascar, an island country located in East Africa.

It is estimated that mangroves divert more than ten times more carbon dioxide than other tropical forests.

The partnership was announced during the annual Consumer Electronics Show (CES) held in Las Vegas.

Mark Newton, Head of Corporate Sustainability at Samsung America, said in a statement that investing in innovative technologies is vital to combating climate change, adding:

Investing in technical innovations, such as those that bring about efficiency improvements and reduce waste, along with nature-based solutions, is vital in the fight against climate change.

Cardano’s partnership with Veritree:

Verification logs will be stored in “Veritree” on the Cardano blockchain.

This technique allows checking data from planting sites and displaying the results of the afforestation process.

Last year, the Cardano Foundation launched its first Preliminary Tree Demo with Veritree.

Users can donate ADA tokens at the rate of 1 ADA in order to get 1 “Tree Token” representing 1 tree.

As of press time, ITO has collected enough contributions to plant 553,900 trees.

Users who donate at least 500 ADA will receive digital cultivation certificates as well as “NFTree Art”.

Those who donate more than 100,000 ADA will have their name written on the map of the forest and the name will be symbolized in the form of NFT.

The tree-planting sessions are set to continue until the end of 2022, according to a roadmap provided by Veritree.

Ultimately, Veritree plans to plant 1 billion trees by 2030.

Read also:

The trading volume of NFT tokens on the “OpenSea” platform reaches an all-time high

China launches digital yuan app on Android and iOS stores

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