The Galaxy phone maker will lead a tree-planting initiative in Madagascar and track it using distributed ledger technology.
Samsung Electronics America announced Monday at the CES tech conference in Las Vegas its partnership with veritree, a blockchain-based climate solutions platform, to plant 2 million mangrove trees in Madagascar over the next three months. Veritree uses blockchain technology to manage the reforestation process and verify each 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 roughly 200 hectares of land and sequester roughly 1 billion pounds of CO2 over a 25-year period.Veritree, developed by tentree, a sustainable apparel company that plants 10 trees for every item of clothing sold, will handle the logistics. Built as an a
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