Hedera Hashgraph Adds Industry Vet Brett McDowell As Founding Executive Director

Brett McDowell, The Ex-PayPal Security Advisor, Has Joined Hedera Hashgraph

The Hedera Hashgraph, one that has been considered to be the next generation public ledger, one that has been designed to have highly diversified governance together with the most distributed consensus if we are to look at scale has just made an announcement. The company went ahead to announce that they have named Brett McDowell as their Founding Executive Director plus the Vice Chair of the Governing Council in the company.

More On Brett McDowell

He is bringing over 20 years of experience in the IT industry which will be a coalition experience to his new role; this is including the executive positions that are at the Kantara Initiative, DMARC.ORG, IDESG together with the FIDO Alliance, where he is still serving.

Additionally, he has an extensive multi-stakeholder governance experience plus serving at the advisory board of the NCSA, MAAWG, PCI SSC, and the StopBadWare, plus several other industry coalitions.

The announcement was made as they were unveiling their list of the Hedera Governing Council Members, which was to happen in the very first annual assembly together with the initial Governing Council meeting, which was both held last week in South Korea, in Seoul.

“As we have laid out from the beginning, we believe that a strong governing council is crucial for the long-term stability and decentralization of a public ledger. In conjunction with bringing the initial group of Governing Council members on board, we are pleased to also take the next step in its development with the appointment of Brett to the roles of Executive Director and Vice Chair. His experience in running some of the largest, most distributed coalitions in the technology industry will be invaluable as we grow this council to maturity.” According to Mance Harmon, CEO of Hedera.

Previously Brett McDowell was the head of the ecosystem security at the PayPal. This is where he was able to develop strategies and was able to launch several initiatives that will be able to improve internet security. But this is not all as he was also a fellow in the National Center for the Digital Government at the UMASS, he also serves the Boston Federal Reserve’s Bank a mobile payment industry workgroup.

The Establishment Of The Council Committee

At the governing council meeting, there was some council committee that was proposed, and from the conference, they are now being processed and being chartered for the approval for the next council meeting.

A finance committee – the committee is expected to maintain the oversight responsibility all being done with respect of the financial affairs that are within the council and also go ahead and review the financial objectives, capital structure, financial policies together with the financial requirements of the committee.

Technical steering and a product committee – the committee will mainly focus on the improvement of the company network underlying technology.

The membership committee – they will be responsible for recommending the objective qualifications and the criteria that will be sued in identifying the qualified organizations that will serve as the members of the current council.

The legal and regulatory committee – they will be advising the Hedera company on a number of regulatory, legal plus compliance matters that are affecting the globe.

The marketing committee– the committee will be responsible for advising the council on public relations, marketing together with other several outreach matters.

The Roadmap Of The Hedera Network

At the inaugural meeting, the governing council also went ahead to discuss the current development that is taking place in the Hedera Network together with the approved plans and the expected timeline for the company to expand the user access of their existing network.

In August 2018, when they launched the network, the company went ahead to open the system for the initial users to be able to participate in the community testing program. In this initial phase of testing, about 5,000 users were able to create accounts and were able to test the services being offered on the platform. And from these hundreds of developers also went ahead to build and test applications on the test nets.

There will be a phase two testing that will be launched to open the network to more developers in the market. After all the experiment has been completed, the company is expecting to open access to their beta version, this way any individual will be able to sign up for an account on the platform, quickly use the current network, and also go ahead and develop different applications for the system.

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