Samsung Selects Cardano-Powered Platform for New Environmental Project.

Samsung, the South Korean electronics giant, has announced that it has chosen a Cardano (ADA)-based platform for a new tree-planting campaign.

In a recent news release, Samsung explains how it will collaborate with veritree. The Cardano-based initiative lets users contribute their ADA tokens to plant trees to prevent climate change.

“[Samsung] has set a goal to plant two million trees in Madagascar by the end of the first quarter of 2022. Samsung is partnering with climate solutions platform, veritree, to manage the tree-planting initiative by harnessing blockchain technology to verify and track every step of the reforestation process.”

One ADA token contributed represents one tree token and one tree planted, according to veritree, which began planting trees in early 2022. Participants that give 15 ADA or more will get limited edition tree tokens, which they can subsequently redeem for art in the form of non-fungible tokens (NFTs).

The planted trees will be tokenized, allowing Veritree to track each tree uniquely, map out the project logistics, and produce unique QR codes for contributors to demonstrate their environmental effect.

“To build trust in the integrity of these projects, we leverage blockchain technology and on-the-ground data capture to verify our projects. veritree is the only platform that seamlessly delivers verified data from planting partners, to businesses, and to consumers in one, innovative platform.”

ADA is exchanging hands at $1.23 at the time of writing, a 11% decrease from its seven-day high of $1.38.

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Patrick

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