Cardano Aims at a “Green” Blockchain in Partnership with Veritree

Veteran analyst warns Cardano may deep 60 90 with ADA painting a classic bearish pattern
Veteran analyst warns Cardano may deep 60 90 with ADA painting a classic bearish pattern

Cardano Aims at a “Green” Blockchain in Partnership with Veritree – Cardano Foundation has proven that diversity is a key to business success. One of their recent partnerships with Veritree aims to register all its global land restoration efforts on the Cardano blockchain. Cardano has unveiled its venture with Veritree to support AID:Tech.

Additionally, the alliance will allow Cardano to offer technical aid to the AID:Tech team.  Furthermore, they will build credentials for reliable identity management and ownership that are verifiable. Also, these will enable users to swiftly process payments and disbursals.

Meanwhile, Cardano Foundation announced the partnership in a tweet:

To emphasize, the Cardano Foundation is ensuring that the Cardano blockchain is future-proof. Moreso, they are working towards becoming fully carbon neutral. Notably, this is Cardano’s first Global Impact Challenge.

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.

Frederik Gregaard added that the foundation fully supports renewable energy. “ I also want to mention Climate Neutral Cardano, a Cardano community of stakepools committed to 100% renewable energy for their operations, as they were instrumental in shaping this engagement. We are firmly committed to supporting a carbon-neutral Cardano as network activity scales, he said.”

Interestingly, Cardano is already noted as a “green” blockchain owing to its relatively low energy consumption. The Cardano Foundation is going beyond the partnership with Veritree to restore the planet via reforestation records that are clear, unalterable, and auditable by all.

Furthermore, Veritree is a nature-based climate solutions platform. It leverages blockchain technology to supply organizations with an integrated planting management platform.

How the Cardano vs Veritree Partnership Works

To celebrate the partnership, Cardano Foundation is inviting 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.

During the token redeeming period, Veritree tokens can be traded with NFT tree planting certificates. In addition, donations from larger donors will be placed into tiers that open collectible badges and rarer digital art.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.

About Sam Gabriel 1696 Articles
Samson Gabriel a graduate of mass communication from Auchi Polytechnic, he is a passionate writer with experience in radio scrip writing. He brings his experience from the broadcast media into play here as he continues to enjoy his passion as a journalist. He can be contacted via whats-app on: +234701105670

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