Cheraw Chronicle

Complete News World

Samsung chooses Cardano platform to combat climate change - BTC Direct

Samsung chooses Cardano platform to combat climate change – BTC Direct

Samsung is working on a tree planting project to combat climate change. They want to achieve this by partnering with Veritree, a platform built on Cardano (ADA).

Donate to ADA to plant trees

in a new way press release Samsung describes how the South Korean company will partner with Veritree, a Cardano-based project that will allow users to donate their ADA tokens to plant trees to fight climate change.

Samsung has set a goal to plant two million trees in Madagascar by the end of the first quarter of 2022.

Follow every step

So, Samsung partnered with Veritree, a self-proclaimed climate solutions platform. The goal is to track all steps of the tree-planting process via the blockchain. Blockchain technology is used to verify and track every step of a reforestation project.

According to Veritree, which began planting trees in early 2022, one ADA token donated equals one token for one tree and one tree planted. Participants who donate 15 or more ADAs will receive limited-edition tokens, which they can then use to redeem the art in the form of non-fungible tokens (NFTs).

Every tree becomes a symbol

Planted trees will be coded, allowing Veritree to track each tree individually, chart the project’s logistics, as well as generate unique QR codes for donors to demonstrate their environmental impact.

“To build confidence in the integrity of these projects, we use blockchain technology and on-site data collection to verify our projects. Veritree is the only platform that seamlessly delivers verified data from factory partners, businesses, and consumers through a single innovative platform.”

See also  Sofina is investing heavily in Collibra

Cardano drops 10%

You might expect this news to cause a massive surge, but Cardano is in the corner where the blows fall. These strikes are handled by bitcoin. Bitcoin is down 8% today and Cardano is dragging with it. ADA is down 10% today.