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.
Read Also: Cardano Founder Is Passionate about Fixing Decentralized Finance (DeFi) Sector
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.”
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.
Read Also: Charles Hoskinson Highlights What Is Coming To Cardano In 2022
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.”
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.”
Crypto Eri (@sentosumosaba), a well-known figure in the cryptocurrency community, recently shared an update regarding…
In a recent statement on X, crypto enthusiast All Things XRP drew a parallel between…
XRP has officially overtaken Ethereum as the most actively traded altcoin in Japan, according to…
Ripple’s recent $1.25 billion acquisition of Hidden Road, a multi-asset prime brokerage company, marks a…
A recent official publication by global payments giant Mastercard has turned heads in the cryptocurrency…
In a bold and cryptic move that has sparked intense speculation within the cryptocurrency community,…
