A lack of trust in tree planting
Over 90% of companies that claim to plant trees, regrow coral, or restore other ecosystems do not publish restoration outcomes. This lack of transparency challenges organizations looking to scale and validate their initiatives.
Tapping the power of enterprise blockchain to verify restoration efforts
veritree partnered with the Cardano Foundation to bring transparency to reforestation. Conducting an initial tree offering (ITO), veritree distributed fungible tokens to participants in the Cardano Forest initiative. These fungible tokens represented a physical tree and were exchangeable for an NFT commemorating each specific tree donation.
Low requirements to implement an advanced traceability solution
Detailed information is included as metadata, without any third-party translation needed
Created on the ledger itself and without requiring a smart contract
Cost calculated per transaction size and fully deterministic transaction outcome
Transforming the restoration space with blockchain
Make incorporating nature-based solutions simple and streamlined for any business model.
Descriptive utility token
Includes a high amount of interactive metadata describing the number of trees to plant, purpose, parties involved in the restoration initiative, and forthcoming steps.
Planting
Physical events take place with involved parties collecting and aggregating data off-chain via a cloud-synced mobile app.
Registration
Data collected via the mobile app is inscribed and validated on the Cardano blockchain, becoming permanent, immutable, traceable, and available to everyone.
Verified reforestation
Donors redeem NFTs that provide an immutable receipt and donation record with the tree’s on-site coordinates verifying the plantation.
Follow-up tracking
veritree leverages JSON metadata together with Cardano’s advanced storage to create data records linked to specific points in time, enhancing transparency and trust.
Results
Blockchain for authenticated SDG and ESG efforts.
Each NFT is serialized to a specific session and not only assures the event took place but also allows different parties to perform real-time management. Verification becomes possible for both funding and reporting purposes.
"Through working with the Cardano Foundation, we have aligned with their community's most knowledgeable and dedicated environmental leaders from around the globe. The strength of this partnership and collective effort will lead to global impact on a massive scale."
Embark on a unique blockchain journey