As a report has it, tech giant Samsung is getting exposure to Cardano through its new partnership with Veritree, a blockchain planting management system.
The new development was shared with the community by Sidney Vollmer, Head of Brand & Communications at Cardano Foundation.
Sidney Vollmer tweeted, “Wow! Samsung’s land restoration efforts – 2 million trees to ben planted this quarter, done by our great friends at Veritree, will live on our blockchain! Meaning: Samsung will now get exposure to Cardano.”
Meaning: Samsung will now get exposure to #cardano
— Sidney Vollmer (@SidneyVollmer) January 4, 2022
As further explained by Cardano Foundation in a tweet, the American subsidiary of the South Korean behemoth aims to tackle climate change by planting two million mangrove trees in Madagascar.
Veritree’s reforestation verification records will be stored on the Cardano blockchain. The technology makes it possible to verify data from planting sites and link every individual donation to the area of land it helped to restore.
Cardano Foundation wrote, “Another great initiative powered by the Cardano blockchain. @SamsungUS 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.”
👏Another great initiative powered by the #Cardano #blockchain.@SamsungUS 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.https://t.co/vtTUfTmqqS #Sustainability
— Cardano Community (@Cardano) January 4, 2022
The new partnership between Samsung and Veritree was announced during the annual Consumer Electronics Show (CES) held in Las Vegas.
Mangrove forests are estimated to store ten times more carbon dioxide than other tropical forests.
Reacting to the new development in a statement, the head of corporate sustainability at Samsung Electronics America stated that investing in innovative technologies is 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.”