Samsung uses Cardano Blockchain: Partners with Veritree

Samsung uses the Cardano blockchain as part of a nature project that benefits climate change. The company has brought Veritree on board as a partner.

Samsung is now using the Cardano blockchain through a project that aims to plant over two million trees in Madagascar.

Samsung is fighting climate change with the help of the Cardano blockchain

So it says in a message that Samsung Electronics America made. With the campaign, Samsung wants to achieve a healthier climate in the long term and thus help the whole planet.

The two million trees should already be planted by the end of the first quarter of 2022. For this, Samsung is cooperating with Veritree. The message will attract a lot of attention at the Consumer Electronics Show (CES) , which will run until January 8th.

Samsung is planting mangroves that only survive in tropical coastal regions. According to the organizers, these trees consume a huge amount of carbon dioxide during photosynthesis.

Since the Korean company considers the effects of carbon dioxide detrimental to the earth’s climate, its share in the atmosphere is to be reduced.

Samsung cooperates with Veritree

In Veritree, the technology giant has found a partner working with companies on nature projects.

Veritree was launched by the fashion brand Tentree. Tentree sells clothes that are supposed to be made as nature-friendly as possible. Samsung is entering into cooperation in particular because it creates better transparency.

Veritree wants to create this transparency by using the Cardano blockchain. The project is not unknown to the Cardano Foundation. Over 560,000 tree tokens have already been sold in the first so-called ITO. The goal is a million.

ITO stands for Initial Tree Offering. A name that is obviously based on ICO. You receive a tree token by donating at least 15 Cardano. This tree token can then be exchanged for NFT.

That is why Veritree is organizing the Redemption Days. The prepared works of art will be distributed to appropriate donors on these days. Of course, these NFTs also run on the Cardano blockchain.

There are different donation levels. From 10,000 ADA, the donor receives an NFT of the “Super” level. At 5,000, for example, the NFT is rated “rare”. The levels “Ultra” and “Highballer” are still unreached.

To achieve them, a single donor must invest 50,000 or 100,000 ADA.

Cardano Foundation enthusiastic about Samsung

The Cardano Foundation, which Veritree supported early on, is looking forward to reaping the fruits of this success in the future. After all, Samsung is one of the largest manufacturers of electronic goods.

Sidney Vollmer is enthusiastic on Twitter. As Head of Brand, he is responsible for the perception of the Cardano in public.

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