DLT Adoption: COFRA Holding Joins Hedera Governing Council

The Hedera Governing Council, which stewards the Hedera open source, leaderless proof-of-stake public network, announced that COFRA Holding has joined the Governing Council.

COFRA is “a 182-year-old family enterprise with more than 60,000 employees and business activities in sectors including real estate investment, sustainable food, clean energy, fashion retail, private equity and asset management.”

As a member of the Governing Council of Hedera, COFRA, “whose mission is to amaze customers and be a force for good, will work to develop innovative, blockchain-based solutions on Hedera, initially focusing on areas like tokenization and supply chain transparency.”

Simon Olson, Co-Chair of Hedera’s Membership Committee, said:

“You won’t solve the world’s most intractable problems by working in isolation. It’s a coordination problem. In order to overcome problems like climate change and effectuate change on a global scale, you need to work with a wide cross section of stakeholders. COFRA has a long, successful track record of building coalitions to tackle difficult problems and we believe that they will contribute enormously to Hedera.”

Hedera claims it is “a leading, open source, leaderless proof-of-stake network which has processed over 8 billion transactions.”

Hedera further claims that it “has the highest real-world transactions per second (TPS) of any blockchain and, as found by a recent study by University College London, Hedera’s hashgraph proof of stake consensus algorithm is also the most energy efficient — making it an ideal partner for climate-conscious organizations like COFRA.”

As covered, Hedera is “the open source, leaderless proof-of-stake network powering the next generation of Web3.”

Hedera’s ecosystem is “built by a global community, on a network governed by a diverse council of industry-leading organizations, including abrdn, Avery Dennison, Boeing, Chainlink Labs, COFRA, DBS Bank, Dell, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology (IIT), LG Electronics, The London School of Economics (LSE), Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, Ubisoft, University College London (UCL), Wipro, and Zain Group.”

As mentioned in the announcement, COFRA Holding AG is “a privately held group of companies active in various business sectors, including asset management (Anthos Fund & Asset Management), private equity investment management (Bregal), fashion retail (C&A), real estate investments (Redevco), renewable energy (Sunrock) and sustainable food (The Sustainable Food Group).”

Headquartered in Switzerland, the group “employs more than 60,000 people across its business operations in Europe, the Americas and Asia.”

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