The Samsung multinational manufacturing conglomerate will use Cardano blockchain for a new project to plant millions of trees.
The technology giant is launching an initiative to help re -see Madagascar in order to combat climate change and improve the natural environment. Samsung will rely on Veritree, a blockchain-based platform, fueled by Cardano intended to provide a toolbox to environmental catering specialists and help them collect and manage data.
Mark Newton, head of busy businesses at Samsung Electronics America, said they would use Veritree to plant more than two million mangroves. Mangroves are very effective carbon wells. They capture the CO2 of the air, then store them in their roots, their branches and the sediments that accumulate around them, which makes it one of the most effective mechanisms to eliminate CO2 from the atmosphere.
“Samsung’s sustainable development course is underway.
According to the announcement of Samsung, Veritree “uses blockchain technology to provide Samsung with a fully integrated platform to support data collection at the field level, site planning, stock management (tree structure) and impact monitoring”.
The Veritree system was built to “collect data from the first day of the planting of trees and provide greater transparency throughout the process”.
Derrick Emsley, co-founder and CEO of Veritree, said: “Our mission is to facilitate the integration of nature-based solutions in any business model and we are delighted with our strategic partnership with Samsung.”
