Samsung will invest heavily in blockchain technology as it aims at applying blockchain technology to its full potential. Samsung, an electronic company, announced in CES conference held on the third day of January that its plan will be centered on taking greater advantage of the blockchain technology and it will begin by adopting blockchain developed machinery to eliminate climate change
Using blockchain technology, Samsung will be planting 2M trees to combat the CO2 emissions. Veritree, a blockchain integrated platform developed to restore the space and track the trees that will be planted.
Samsung’s Climate Change Project
Samsung’s climate change initiative has evolved over time to include the development of breakthrough technology as well as a natural-based endeavor to improve climate and environmental safety. During the Consumer Electronics Show in Las Vegas, Samsung revealed details about its continuing climate change project in Madagascar, which will be completed in April 2022. Samsung acknowledges the importance of the initiative and its actions to address any obstacles in its formal release.
Samsung works with environmental researchers and business divisions to investigate energy-saving solutions in order to build high-efficiency goods and develop new technologies to meet environmental needs.
Samsung announced a collaboration with Veritree, a global blockchain solution provider focused on developing nature-based projects to protect the environment from climate change. Veritree, a blockchain-based technology, allows Samsung to track whether these trees have been planted and supervise the planting of the entire two million mangrove trees. Tentree is driven by Veritree, which ensures that trees are planted, tracked, and information about these trees is given through the Impact Wallet by embracing Cardano as its network base.
Samsung’s Goals
Apart from the aforementioned, Samsung has attempted to improve energy efficiency by developing technologies such as Quick Drive. By supporting low customer energy use and expenses, the electrical company has invested in reducing greenhouse gas emissions. Samsung said that one of its ongoing projects aims to reclaim 200 hectares of land through tree planting. Additionally, tree planting will aid in the reduction of CO2 emissions. In at least 25 years, technology is expected to help catch and negate a billion pounds of CO2.
Samsung’s CEO, Mark Newton, acknowledged the need of cutting-edge technology in tackling climate change. Various technology will aid in the completion of these environmental projects. Mangrove trees were chosen by Samsung because they are the most effective at lowering CO2 levels in the atmosphere. Apart from the mangrove plantation initiative, Samsung has announced that smart TVs and Non-Fungible Tokens will be integrated. It’s also worth noting that Veritree is a fully integrated platform that will run on the Cardano network’s foundation.
Samsung, as a prominent global IT firm, is always doing research and funding programs to aid in the fight against climate change. The IT firm is collaborating with forward-thinking technology to increase the use of renewable energy and reduce CO2 emissions around the world.
