Samsung uses blockchain technology to combat climate change

Samsung Electronics America Announce At the CES technology conference held in Las Vegas on Monday, it partnered with veritree, a blockchain-based climate solution platform, to plant 2 million mangroves in Madagascar in the next three months. veritree uses blockchain technology to manage the reforestation process and verify each tree planted.

The tree planting plan is part of Samsung’s nature-based environmental sustainability action plan, specifically capturing and sequestering carbon dioxide (CO2) from the atmosphere. The goal is to restore approximately 200 hectares of land and store approximately 1 billion pounds of carbon dioxide within 25 years.

Veritree was developed by tentree, a sustainable clothing company that plants 10 trees for each garment sold and will handle logistics. As an accounting system, veritree seeks to provide greater transparency in the entire process from field-level data collection, site planning, tree inventory, and impact monitoring. Tree planters use their mobile phones to track the trees that sponsors paid to plant, basically creating a digital map of the corresponding digital trees.

Mark Newton, Head of Corporate Sustainability, Samsung Say Investing in innovative technologies and so-called “nature-based solutions” is essential to combat climate change.

related: Samsung announces the launch of the NFT platform for smart TVs

According to Samsung, mangroves are one of the most effective natural carbon sinks in the world. The roots of mangroves are usually covered by water, which captures and stores carbon dioxide in the soil. Samsung plans to work with local community members in the Mahajanga region of Madagascar, which is facing significant deforestation to achieve its goal of 2 million trees by the end of the first quarter.

The tree planting plan is part of Samsung’s continuous efforts around sustainable development.also use In renewable energy in the United States, the company recently launched a new Smart TV lineup with integrated NFT platform.