Samsung Electronics (KS 🙂 America announced Monday at the CES Tech Conference in Las Vegas its partnership with veritree, a blockchain-based climate solutions platform, to plant two million mangrove trees in Madagascar over the next three months. veritree uses blockchain technology to manage the reforestation process and verify every tree that is planted.
The tree planting initiative is part of Samsung’s nature-based action plan on environmental sustainability, specifically to capture and sequester carbon dioxide (CO2) from the atmosphere. The goal is to restore approximately 200 hectares of land and sequester approximately 1 billion pounds of CO2 over a 25-year period.
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Veritree, developed by tentree, a sustainable clothing company that plants 10 trees for every item of clothing sold, will handle the logistics. Built as an accounting system, veritree attempts to provide greater transparency of the entire process, from field-level data collection, site planning, tree inventory, and impact monitoring. Tree planters use their phones to track trees that a sponsor has paid to plant, essentially creating a digital map of the corresponding digital trees.
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