South Korean electronics large Samsung says it has chosen a platform constructed on Cardano (ADA) for a brand new tree-planting initiative.
In a brand new press release, Samsung particulars how it will likely be teaming up with veritree, a Cardano-based venture that enables customers to donate their ADA tokens to plant bushes as a method of combating local weather change.
“[Samsung] has set a objective to plant two million bushes in Madagascar by the tip of the primary quarter of 2022.
Samsung is partnering with local weather options platform, veritree, to handle the tree-planting initiative by harnessing blockchain know-how to confirm and observe each step of the reforestation course of.”
According to veritree, which began planting the bushes at first of 2022, one ADA token donated equals one tree token and one tree planted. Participants who donate 15 or extra ADA will obtain restricted version tree tokens, which they will then use to redeem artwork within the type of non-fungible tokens (NFTs).
The planted bushes shall be tokenized, permitting Veritree to trace every tree individually, map out the logistics of the venture, and likewise create distinctive QR codes for donors to showcase their environmental affect.
“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 fingers at $1.31 at time of writing, a 5% lower from its seven-day excessive of $1.38.
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