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- In its land restoration initiatives, Samsung has collaborated with Cardano Foundation.
- According to a tweet shared by Sidney Vollmer of the Cardano Foundation, tech giant Samsung will now be exposed to Cardano as a result of its recent agreement with blockchain-based plantation management system Veritree.
- Users will receive a “one-of-a-kind” NFTree art piece and their name on the card.
About Samsung
Samsung is a South Korean-based technology corporation that is often regarded as a technological giant in the mobile market. Samsung is now involved in practically every type of technological initiative.
Aside from an improved business model, Samsung will try to address climate change challenges. Because Samsung is a technology firm, it will work with other tech companies to determine how much it contributed to the new initiative.
The environmental friendly partnership
Veritree’s replanting verification records will be maintained on the Cardano blockchain as part of the Cardano-Veritree cooperation. The technology allows for the verification of data from planting sites as well as the linking of each individual gift to the amount of land it has helped restore.
The Cardano Foundation released the first Initial Tree Offering (ITO) with Veritree last year. Users can contribute one ADA token in exchange for one Tree Token, which represents a tree. At the time of publication, ITO had received enough donations to plant 553,900 trees.
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Get a “one-of-a-kind” NFTree art piece
Veritree’s ultimate goal is to grow one billion trees by 2030.
- Users who give 500 ADA or more will receive digital planting certificates as well as “NFTree Art.”
- Users who spend 100,000 ADA tokens will receive a “one-of-a-kind” NFTree art piece as well as their name on the card.
According to a roadmap published by Veritree, tree planting sessions are planned to continue through the end of 2022.
In a statement, the head of corporate sustainability at Samsung Electronics America noted that investing in innovative technology is critical in dealing with climate change.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
