Tech giant Samsung will now have exposure to Cardano via its recent partnership with blockchain planting management system Veritree
The partnership was announced at the Consumer Electronics Show (CES) in Las Vegas. Cardano Foundation’s Sidney Volmer tweeted about it, explaining that it’s part of Samsung’s land restoration efforts and will mean that the company now has exposure to the project.
Cardano Foundation wrote, “Another great initiative powered by the Cardano blockchain. Samsung going 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.” An American subsidiary of Samsung established a partnership with Veritree. The tech giant explained that trees and forests play a critical role in stabilizing the climate as they “impact the carbon cycle, regulate ecosystems, conserve biodiversity, and can help support the well-being and livelihood of local communities.”
Mark Newton, head of corporate sustainability at Samsung Electronics America, said in a statement that investing in innovative technologies was “vital” in fighting climate change: Investing in tech innovations, such as those that create efficiency improvements and minimize waste, in combination with nature-based solutions, are vital in the fight against climate change.
Veritree’s replanting verification records will be maintained on the Cardano blockchain as part of the Veritree cooperation. The technology allows for the verification of data from planting sites. As well as the linking of each individual gift to the amount of land it has helped restore.
Veritree mission is to built blockchain technology and be the world’s first, fully integrated platform designed to transform the restoration space through technology. Veritree provides a comprehensive toolkit to restoration partners allowing them to collect and manage ground-level data and deliver it directly to all stakeholders.
