2022-01-11 08:33:11

Cardano Plants A Million Trees To Make Blockchain ‘Climate Positive’

KEY POINTS

  • Cardano partnered with Veritree to plant the trees
  • SDG reporting can be made transparent with blockchain tech: Cardano 
  • Samsung plans to plant 2M trees in Madagascar 

The Cardano blockchain has reached the milestone of planting one million trees in a reforestation effort, the company revealed on Twitter. 

“The Cardano Forest is 100% funded, we’ve reached the 1 million trees milestone. All trees planted will be recorded on the Cardano blockchain for enhanced transparency and serve as public proof of land restoration activities,” Cardano Foundation CEO Frederik Gregaard tweeted.

Blockchain technology has faced backlash in recent years because of its environmental impact as it runs on a global network of users using their computing resources to process transactions. 

The goal of Cardano in planting digital trees is to become a climate-positive blockchain, Gregaad said on Twitter adding that the main purpose of the Cardano Forest is to show “how SDG reporting can be transparent with blockchain technology.” 

The Cardano Foundation has partnered with crypto startup Veritree, which uses blockchain technology to record the supply chain of tree plantations for its users. Veritree plants a tree every time Cardano’s ADA currency is exchanged for a TREE token, which can be redeemed for digital trees and non-fungible tokens (NFTs) on specific “redemption days.”

In a similar effort, Samsung Electronics America recently partnered with Veritree to plant two million trees in Madagascar by the end of the first quarter of 2022.  Cardano hits 1M staking wallets. Photo: Pixabay

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