At Cardano summit 2021, there were many announcements, one of them being the collaboration between Cardano foundation and Veritree.
Why this partnership?
Cardano is already noted as a “green” blockchain owing to its relatively low energy consumption. However, Cardano wants to become fully carbon neutral. That’s why Cardano Foundation is going beyond the partnership with Veritree to restore the planet via reforestation records that are clear, unalterable, and auditable by all.
CEO of the Cardano Foundation, Frederik Gregaard, said,
“Internal data collection and network surveys from the Climate Neutral Cardano Group suggest that if we achieve our goal of planting 1 million trees, we will help reduce our carbon footprint four times over”.
Climate Neutral Cardano pools are very proud to have given a significant push to climate-neutral blockchain technology and to be a reliable partner of Veritree and other vital organizations in the events to come.
Cardano will offer technical aid to the AID: Tech team. They will build credentials for reliable identity management and ownership that are verifiable. Also, these will enable users to process payments and disbursals swiftly.
Veritree is a nature-based climate solutions platform. It leverages blockchain technology to provide planting organizations with an integrated planting management platform. The veritree system allows planting organizations to gather ground-level data, manage their projects more effectively, and deliver sponsors a world-class experience.
To celebrate the partnership, Cardano Foundation invites everyone owning Cardano to take part in the first Global Cardano Impact Challenge. This means every ADA donated to Veritree equates to one tree planted. On the other hand, retail donors vowing up to 15 ADA will get a Veritree token in return.