It’s been just revealed that the electronics giant Samsung chose a platform that is built on Cardano for a new tree-planting move.
Samsung detailed the way in which they will be teaming up with veritree – this is a Cardano-based project that allows users to donate their ADA tokens to plant trees as a means of combating climate change.
“[Samsung] has set a goal to plant two million trees in Madagascar by the end of the first quarter of 2022.”
The notes reveal the following as well:
“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.”
The online publication the Daily Hodl notes the following: according to veritree, which started planting the trees at the start of 2022, one ADA token donated equals one tree token and one tree planted.
The planted trees will be tokenized
It’s been also revealed that the participants who donate 15 or more ADA will receive limited edition tree tokens, which they can then use to redeem art in the form of non-fungible tokens (NFTs).
The same online publication mentioned above notes that the planted trees will be tokenized, and this will allow Veritree to “track each tree individually, map out the logistics of the project, and also create unique QR codes for donors to showcase their environmental impact.”
The official notes reveal the following as well:
“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.”
Regarding the price of ADA today, at the moment of writing this article, ADA is trading in the red and the coin is priced at $1.21.
Stay tuned for more news.