Samsung relies on Cardano

Samsung wants to support reforestation on the planet and is therefore entering into a partnership with veritree. This is a project that is located on the Cardano blockchain and is intended to provide transparency and measurability in the process.

Samsung wants to have planted two million mangrove trees in Madagascar by the end of the first quarter of 2022. These should then bind around half a billion kilograms of CO₂ over a period of 25 years.

To ensure that the process is transparent and understandable for stakeholders: the company relies on Veritree .

Veritree handles the tasks of field data collection, site planning, inventory management and impact monitoring. Veritree is a well-known project of the Cardano network.

To participate, interested parties can donate Cardano tokens (ADA) via the Veritree website. For each ADA, the donor receives tree tokens back. These can then be exchanged for NFTs of different rarity levels at special events of the Cardano network.

So far, 560,000 tree tokens have been sold in the first Initial Tree Offering ( ITO ). The target is one million for the time being.

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