Cardano-powered platform chosen by Samsung for brand new environmental initiative – The Each day Hodl

South Korean electronics giant Samsung has launched a new tree-planting initiative for a Cardano (ADA) -based platform.

In a new press release, Samsung describes how it will partner with veritree, a Cardano-based project that will allow users to donate their ADA tokens to plant trees to fight climate change.

“[Samsung] has set itself the goal of planting two million trees in Madagascar by the end of the first quarter of 2022.

Samsung is working with climate solution platform veritree to manage the tree planting initiative by using blockchain technology to review and track every step of the reforestation process. “

According to veritree, which began planting the trees in early 2022, one ADA token donated equals one tree token and one tree planted. 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 trees that are planted are tokenized so that Veritree can track each tree individually, map the logistics of the project and also create unique QR codes for donors to show their environmental impact.

“To build trust in the integrity of these projects, we use blockchain technology and on-site data collection to review our projects. veritree is the only platform that seamlessly delivers verified data from planting partners, companies and consumers on a single innovative platform. “

ADA is trading hands at $ 1.31 at the time of writing, down 5% from its seven-day high of $ 1.38.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trades are made at your own risk and that any losses you incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Selected image: Shutterstock / ConceptCafe


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