Hedera Hashgraph, a speedy blockchain that seeks to power enterprise services, has added IBM and Tata Communications to its Governing Council. Hedera reports that curretntly there are 39 multinational entities participating on the Council as it pursues the “next generation” distributed ledger technology (DLT). Council members serve a maximum of two consecutive three-year terms and act as stewards of the platform.
CEO and founder Mance Harmon says the addition of IBM and Tata Communications to the Hedera Governing Council is a powerful endorsement of the tech.
“Our governance model, which includes a robust system of checks and balances, ensures power can’t be consolidated, while at the same time providing a stable and scalable platform on which developers can build,” states Harmon.
Hedera notes that all Council members have equal say in approving updates, setting policy and overseeing nodes. Hedera has consistently stated it will never fork.
Jerry Cuomo, VP of Blockchain Technologies at IBM, issued a statement on joining the Hedera Council:
“We are excited to join the Hedera Governing Council and explore relationships between public networks and industry-specific networks. Hyperledger has proven to be the de facto standard enterprises use to build, manage, and deploy blockchain-based ledgers. We believe Hedera could help provide an interesting way to enhance and simplify the deployment of Hyperledger Fabric in the enterprise, making it easier for groups to build and grow their networks.”
Simultaneously, Ankur Jindal, Global Head of Corporate Venturing and Innovation at Tata Communications, had this to say:
“Innovations such as DLT, AI, and IoT change the way organizations and people interact with each other and with the world. These emerging technologies can be harnessed to strengthen our efforts to improve operational efficiencies and enable our customers’ digital transformation worldwide. We look forward to engaging with other forward-looking businesses on the Hedera Hashgraph Governing Council to help deliver the potential of DLT to the wider digital economy.”
Harmon believes that DLT is “vital to the future of digital trust and commerce.”
“Though Council members come from all over the world and from many different sectors, they all share the vision of a better digital future. We are excited to welcome IBM and Tata Communications to the Council,” stated Harmon.