Blockchain verified, global forest restoration projects.
An integrated platform that has been designed with geo location technology and blockchain verification at its core in an attempt to transform the restoration space and create verifiable and transparent restoration projects. The tools used by veritree connect all the stakeholders in the restoration business: tree planters, planting organizations, business, and consumers through a singular platform.
##An Initial Tree Offering (ITO)
Veritree introduced themselves to the Cardano community by creating the world's first Initial Tree Offering. Over the course of 3 months Veritree raised 1 million ADA and is using that to plant 1 million trees around the world.
Donators received limited edition tree token for donating 15ADA or more and once the planting of the trees is complete these tree tokens can be redeemed for limited edition trees and NFT digital art that shows them where their trees are planted along with data about the reforestation project.
Incorporating and Embracing Technology
Veritree is standardizing how data and evidence are collected, managed, uploaded, verified, and delivered in the forest restoration world. These verifiable projects can be used to produce high integrity carbon credits, and the tools to manage these projects are free of charge for planting organizations.
Each reforestation project has its GPS coordinates recorded on the Cardano blockchain by the creation of a token. Doing this can eliminate the current industry “double counting problem” where 1 tree is planted and then claimed multiple times and allow for the tracking and follow up of reforestation efforts.