Umbrella Network Celebrates Earth Day 2022 by Supporting Veritree’s “10 Million Verified Tree” Challenge

Veritree and Umbrella join forces to tackle the scaling of global reforestation efforts through verified planting data

TL;DR

• Umbrella to support veritree’s “10 Million Verified Tree” Earth Day initiative along with partners including Samsung, Cardano, and many more
• Umbrella Network continues to expand its sustainability and green energy data oracle offering
• Umbrella moves up plans to go live on Cardano to next month, opening up oracle solutions for Cardano based projects

This Earth Day, Umbrella Network is pleased to announce our support of veritree, the restoration platform that connects mission-driven companies with verified nature-based solutions.

In alignment with Umbrella’s vision to bring the world’s data on-chain — spanning multiple blockchains and multiple data categories — we recognized a great fit in veritree’s mission to drive reforestation with real, verified tree planting made possible by innovative blockchain solutions.

Bringing real-world, verified reforestation data to blockchain is a crucial step to making a difference through technology. We’re excited to contribute to veritree’s “10 Million Verified Tree Challenge” on behalf of our partners.

Let’s learn more about the exceptional work veritree is doing.

Building Forests and Providing Resources for Communities through Technology

veritree is an innovative platform built with blockchain technology that brings transparency, accuracy, and traceability in global restoration efforts, building trust and creating transparency for planters, sponsors, and end consumers. They’re a mission-driven company that has a unique take on using the verification and transparency capabilities of blockchain to connect to real-life reforestation.

With a user-friendly platform built around decentralized technology, veritree works with planting organizations to collect and track data with transparency and traceability at the ground-level. Information such as the number of trees planted, geographic coordinates of the planting sites, and the responsible planters is provided to stakeholders in a digestible and engaging way. They can verify and track every step of the reforestation process. Their verifiable tracking of nature-based solutions has sparked even further ingenuity with veritree’s NFT based initiative.

Veritree’s “NFTrees” on Cardano — Not Just an Amazing Product Name

Earlier this year, veritree and Cardano, the proof-of-stake blockchain focused on sustainability and change for good, collaborated on a hugely successful program in which participants could exchange ADA (Cardano’s native token) for NFTrees — non-fungible tokens that represent trees to be planted. Participants could also earn NFT art from talented digital artists.

The Cardano Forest crowdfunding challenge swiftly hit its 1 million trees goal, and planting activity is tracked and verified through veritree. As the planting continues, participants will have transparent ownership of the trees planted around the world.

Brand Sustainability Partnerships with veritree

Notably, veritree has had great success in motivating corporate stakeholders to invest in reforestation through blockchain technology. Samsung Electronics America has engaged with veritree to plant and track two million mangrove trees in Madagascar in 2022, playing a big role in contributing to veritree’s goal of planting and verifying one billion trees by 2030.

Now, for Earth Week 2022, veritree has announced a new call to action in its “10 Million Verified Tree Challenge” which brings together 30+ corporate partners to contribute to restoration projects around the world.

Samsung, Cardano, Vega and several others have contributed to the program already, and Umbrella Network is pleased to announce that we, too, have joined the “10 Million Verified Tree Challenge”. As a “Thank You” to our partners, Umbrella Network is supporting the planting of 7,500 trees in Kenya on behalf of our valued ecosystem partners.

What’s Next?

The Umbrella team has accelerated our plans to go live on Cardano in the coming weeks, with a launch expected before the end of May. In conjunction with bringing our oracle data offering to Cardano dApps, Umbrella has invited veritree to be the first project we support on Cardano.

Known as an energy-efficient blockchain, Cardano is yet another non-EVM chain we are proud to add to our growing multi-chain ecosystem. As we operate on a delegated Proof of Stake consensus mechanism, our philosophy of data management and efficiency is a great match with Cardano’s infrastructure.

In the meantime, we encourage our community to check out veritree’s “10 Million Verified Tree Challenge” this Earth Day!

Speaking on the partnership, David Luba, Co-Founder of veritree, said, “Umbrella Network is seizing the opportunity to showcase how blockchain technology can be a force for tremendous good, and not an environmental drain.”

“veritree is at the forefront of bringing ground level data, from day one of tree planting, to a transparent and useful platform,” said John Chen of Umbrella Network. “True to our mission to bring real world data on-chain, we see a special opportunity to contribute to a greener future with real, measurable impact. We are also dedicated to building out our sustainability data offerings for data providers and dApps across the ecosystem.”

About veritree

veritree is a data-driven, restorative platform that connects nature-based solutions with mission-driven companies ready to lead the restorative economy. With on-the-ground monitoring and blockchain verification, veritree improves transparency and trust through data and tools that revitalize ecosystems, strengthen communities, and build climate solutions. The success behind tentree’s planting program, veritree scales consumer-centric programs between planting organizations and corporations around the world. veritree’s mission is to restore the planet, planting and verifying one billion trees within the decade. For more information, visit veritree.com.

About Umbrella Network

Umbrella Network is a scalable, decentralized, and community-owned oracle that utilizes Layer 2 technology to integrate real-time data into smart contracts for accurate and timely reports. Umbrella Network brings the world’s data to blockchains to enable DeFi applications to perform at the optimum level regarding precise information dissemination. It believes a decentralized oracle is paramount to creating a truly decentralized financial space.

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