New Governance Council for Blockchain DLT-Rival Hedera Hashgraph Attracts Some Big Time Names

Some of the largest global companies worldwide are grouping together to establish a governance council for the public distributed ledger, called Hedera Hashgraph.

A few of the companies joining the group include Nomura Holdings, DLA Piper, Deutche Telekom, Magazine Luiza, and Swisscom Blockchain AG.

Mance Harmon, Hedera’s CEO, recently stated that the group is intentionally comprised of “world-class” brands from different industries and geographies to guarantee “continued decentralization.” The group’s governance council will oversee varies issues, such as software changes that are managed by the platform’s millions of distributed nodes.

The distributed ledger is valued at around $100 million and it runs on a proof of stake model. It seems that the ledger is gaining in popularity as well, as many companies are adopting it due its secure and enterprise-ready system.

The platform may be able to provide companies with a transaction network maybe better than Ethereum’s low throughput chain. There are also 40 different dApps that are scheduled to launch on the platform.

Scott Thiel, a member of the counsel and a partner at law firm DLA Piper, stated that his firm has been working in blockchain projects for years and is hoping that Hedera will be able to address some issues that have been preventing widespread adoption.

He also stated,

“Legal uncertainty is an area we’ve seen a lot of nervousness . . . We’ve seen a piecemeal approach from regulators across the world. The exciting bit from my perspective is to bring innovative solutions to old challenges.” Moreover, “There is a lack of diversity of contributions to governance. There is also a lack of diversity of contributions to governance. There is power in diversity of opinions.”

The governance model has elements that are also similar to VISA company and “is designed in a way that ensures the governing council can be trusted to do what’s in the best interest of the Hedera network, that no single company has control, and that the Council cannot be unduly influenced by individual members or node operators.”

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,273FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today