Cardano announces partnership with Veritree, the Samsung-led reforestation program

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The technology of Cardano will be used by Veritree to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. in the financing of the initiative, as well as in the management of the records of the reforestation plans in the areas to be restored.

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The South Korean developer of technological devices, Samsung, recently entered into an alliance with Cardano through Veritree, its management system for organic plantations based on Blockchain.

While the alliance itself does not mean that Samsung to fully employ the technology of Cardano in their products and services, what it does imply is that they will collaborate together in the initiative of the technology giant to fight climate change, this by planting two million mangroves in Madagascar, a country located towards the east of the African continent.

The news in question was confirmed by the official account an account is essentially a whose purpose is to track the financial activities of a specific asset/ of Cardano en Twitter during the celebration of the event Consumer Electronics Show (CES), where he wrote the following:

“Another great initiative powered by #Cardano’s #Blockchain. @SamsungUS will plant two million trees in Madagascar by the end of Q1 2022 in partnership with @Veritree_, a Cardano Blockchain-based platform a place to buy, sell and store cryptocurrency for climate solutions.”

????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

In this regard, the director of the corporate sustainability area at Samsung Electronics America, Mark Newton, commented:

“Investing in technological innovations, such as those that create efficiency improvements and minimize waste, combined with nature-based solutions, are vital in the fight against climate change.”

Alianza Cardano – Veritree

As such, the technology Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. de Cardano will be used to store the reforestation records managed by Veritree, This will make it possible to verify the data associated with the planting sites and link each donation to the area of land to be restored.

In 2021, the Cardano Foundation launched the first initial offering (ITO) in cooperation with Veritree, so users could donate 1 ADA to receive a token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. representing a tree. This raised enough capital capital is most commonly defined as the large sum of money you would use to invest. to plant more than 553,000 trees.

In this case, the campaign will be reinforced with the gift of digital digital technologies are these electronic tools that have the ability to generate, store or even process data. collectibles. (NFT) and digital planting certificates, which will be given to all those users who donate at least 500 ADA to support the cause.

The reforestation campaigns are expected to run until the end of 2022, and the idea of Veritree is to plant an estimated one billion trees by 2030, provided conditions are right.