Hedera welcomes IBM, Tata

The Hedera Hashgraph Governing Council recently added International Business Machines Corp (IBM), and Tata Communications. The Hedera governing council is a distributed open ledger platform that intends to be faster and keeps running at a bigger scale than current blockchain technologies.

Cryptocurrencies made an immense comeback driven by bitcoin, which has taken off over 200 percent so far in 2019. Supported by Hedge Fund Block Tower Capital and Digital Currency Group, Hedera brought 124 million dollars in August last year amidst the sliding cryptocurrency market.

The Council will include 39 worldwide entities from different businesses and as per the organization; it is intended to “ensure decentralized and responsible governance for a next-generation Distributed Ledger Technology (DLT) platform.”  Each member is entitled to serve a limit of two back to back three-year terms, and they are in charge of eliminating the danger of forks and ensuring the trustworthiness of the codebase.

About the author

Henry is the Founder and Executive Managing Director of Compumatrix and Networks International. He is also the Editor-in-Chief of the Compumatrix Bloggers' Network.

Comments

  1. This is interesting and I like the term limitations. Too many years in service up the chances for corruption in anything in my opinion…

  2. “ensure decentralized and responsible governance for a next-generation Distributed Ledger Technology (DLT) platform.”
    A governance that is not centralized as banks are and responsible not like some world governments tend to be and seeing it into the future as in next-generation is what DLT platform is what here is being ensured

  3. The Hedera Council can be good and bad. If it sticks to its purpose as posted at Hedera.com, it could be an asset to the Cryptocurrency world. Council members are committed to governing software changes, while bringing stability and continued decentralization to the public network. Is a danger where they become power hungry and take their administrative purpose and become authoritarianist in their function. Do we want a digital Central Banking System?

  4. Like anything, time will tell if Hedera will stand up to what it claims and be an avid player in the cryptocurrency space. The reason people love Bitcoin is the longevity of it. It has been around since roughly 2009. As long as it somehow stays decentralized, then it could be welcomed. But anything that smells of centrality, I think, will soon be shunned.

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