Many projects want to use technology to work for a better world. The blockchain, this revolutionary new tool, aims to protect the environment. The Cardano Foundation has understood this and is working hand in hand with the Veritree project. This is the objective of achieving a neutral carbon impact. The idea is still to take on one side to give on the other in order to achieve a perfect balance.


Cardano (ADA) in the service of rebuilding the world

The various events of the Veritree project aims to fund tree and forest planting projects around the world.

Let's find out in detail how the Veritree project works and what the project has achieved since its launch.

Video of Veritree's presentation on reaching the first million tree goal


ITO first edition

During the Cardano Summit 2021, it was the launch of the first planting session for the Cardano forest via an ITO (Initial Token Offering). An ITO remains similar to the ICO (Initial Coin Offering) but is not intended to be valued, i.e. we will always remain on the principle of a token equal to a tree in this case. . The Cardano Foundation pledges to plant 1 million trees with the Cardano Impact Challenge.

Cardano informs its community about the “Global Impact Challenge” which consists of planting 1 million trees

The planting of these trees has restored the Mombasa area located in Kenya. This is the opportunity for all users to support a new model by donating via the ADA token (the utility token of the Cardano ecosystem). With the donation of an ADA token, the user participates in the planting of a tree and will receive a "  Veritree verification  " token which certifies precisely the planting.



Veritree

The project was developed to bring transparency and accountability to global restoration through technology. This is an investment solution to help support the zero carbon transition. Veritree 's goal is to plant more than one billion trees by 2030 with all partnerships.

In order to ensure the transparency and legitimacy of the Cardano Forest, the Veritree project will deploy NFTs on the Cardano blockchain. These NFTs will make it possible to give transparent ownership to users of trees planted around the world.

It is the first field monitoring technology for restructuring projects. Veritree captures real-time information from the field by growers.

It is the ability to connect users with the field. It is the only platform that allows users to track the growth status of their trees.

Using blockchain technology, Veritree validates location information for plantations. And also provides a traceability solution so as not to count a double tree and leaves a permanent recording trace.


Meld plants 175,000 trees

Meld is a project that wants to give financial freedom to its users. The possibility for everyone to be financially free and to have access to products which today are only accessible to centralized institutions. The goal is to empower the masses and the unbanked.

Meld thanks all of the users who have been willing to leave their ADA tokens in the liquidity pools. This raised over $87,000.

The ISPO (initial stake pool offering) model for fundraising initiatives is an incredible mechanism for the ecosystem and for projects like Veritree. This is a new fundraising model introduced on the Cardano blockchain. This new model makes it possible to generate income from a staking pool thanks to proof of stake from the Cardano blockchain.


NFTs

Field data provided to Veritree is recorded and minted within the blockchain for exchange. Explained first round of claimed 'Trees & NFT' art.

From 15 Veritree tokens, the user will be able to receive an NFT which provides digital certification. The greater the number of tokens deposited by contributors, the more "rare" the rewards will be.

The works come from two artists, Egon of German origin, is developing a project focused on the discovery and study of stars and planets. Damian, on the other hand, is from Argentina where every NFT Tree has GPS coordinates.


The Samsung project

Samsung is collaborating with Cardano and the Veritree project to reduce its carbon footprint. It integrates innovative products into its strategies and commercial operations to access a circular economy. The company provides an opportunity for environmentally conscious consumers to have a positive impact on their communities.

The company has set a target of planting two million trees in Madagascar by the end of the first half of 2022. Samsung is working with field experts from Eden Reforestation Projects to plant mangroves. The objective is to plant trees in the Mahajanga region in Madagascar. This is a coastal region facing biodiversity problems following large-scale deforestation.


Roadmap

The Veritree project has a roadmap for the whole of 2022. In March, the planting sessions will continue to take place with the first series of monitoring reports to be implemented. During the second quarter, the Cardano project planting map should be available.

During the third quarter, new plantations will see the light of day for users but above all to reduce the carbon impact. The project ends the year with the approval of the last planting projects as well as the final versions of NFT awards.

Is this new investment model able to become more democratic? Blockchain technology and more specifically the Cardano blockchain are implementing new strategies to improve the impact we can have on the environment.

This is the opportunity for companies like Meld or Samsung to get a foothold in the world of cryptocurrencies. Veritree provides a turnkey solution with the management of tokens, fundraising as well as results reports both on the plantation and on the property certificates.

There are still beautiful projects to discover and implement in order to participate together in the development of a better world.

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