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.

  5. It is always a fine line and risky when self-governing groups pass new regs and start to guide an industry. It remains to be seen if it will bring about true protection of an industry or a vehicle to control an industry for self interest regardless of the consumers ultimate interest. We will see with all of these groups.

  6. I agree wholly with you Jeff N — time is always the key Factor to whether any new possibilities ultimately work and Win for each of us or if they fail at keeping us in a winning situation and fall by the wayside — I do know after this virus problem of the last few months there are Many small month to month businesses that are will no longer open their doors and that saddens me —

  7. I agree also with Gail that to many side way issues can develop when too much time and not enough eyes watching over but then I go back to — too much interference from authority makes any business not a joy to operate so hopefully there will be happy median and I do always believe that Truth and Integrity in any business is the key to success and many peaceful and restful sleeps —

  8. I had never heard of Hedera before reading this article, but I watched a YouTube video and now know the basics of what Hedera Hashgraph Governing Council aims to do. They aim to provide speed, security, stability, and governance for their Distributed Ledger Technology. Also, the services they offer are cryptocurrency, smart contracts, file service, and the consensus service. Currently, there is a lot of information that I am trying to learn about cryptocurrencies as it is all pretty new to me, but I have learned so much already and am willing to put in the hard work to understand everything fully.

  9. like your reply mrn it shows tenacity and honor also and that is so nice to see — I hope you do well with us here and I hope hedera tech does their business in the right way and succeeds and helps the global ends of their business to stay stable but also profitable in those cases — keep learning is a good thing —

    1. Awe, thank you rjh59 for taking the time to reply back to me! It honestly means so much to me to be able to be part of this community and learn from knowledgeable people in the crypto space. I’m reading this book about fear right now and it is about how one must conquer their fears in order to move forward. I was originally intimidated by all the technical stuff involved, but not anymore – here is to learning!

  10. I learned about Hedra at a Fintech conference. I was interested in different smart contract developers. I found it very interesting that Hedra runs Solidity smart contracts. As I was learning to program, I wanted to learn how to write Solidity and where to run the contracts. This article is very interesting, as it introduces the Hedra Governing Council and the potential control over running a smart contract on Hedra.

  11. It is wonderful to see Hedera and IBM taking a role in this space. DLT looks to have it’s efficiencies and a strong platform for scalability. Keeping up with the anonymity in the defi space is paramount and seems like the standard if you wan to be successful in this arena. I would like to hear more about how these ventures unfold.

  12. Thank you for introducing me to the hedera! I am glad to see they are using distributed ledger technology because that ultimately means that it will be able to complete faster transactions and that means that it will still have high security of your funds because the ledgers will only be people who must stake their money in order to get the opportunity to do the transaction.

  13. so good to read the replies here and agree on speed and decentralizing and keeping that speed as fast as can and that will ultimately keep any more secure because speed is essential in the transactions and honestly the more a few of these older tech companies and older established businesses in general become more involved the more my confidence level improves — good stuff here —

  14. amazing to read thru the blog and replies and see the factors involved in the everyday happenings of the crypto world — yes it would be nice if everything just happened so perfectly but as life has taught me –that does not happen sort of like here — and posting replies — and then nothing shows ?? time as always tells the whole truth —

  15. Thank you Henry for the information. I can’t wait to see how it’s done now it’s been almost 1 year Aug 2019 so we are here Aug 2020. With all the crazy things going on in the world Bitcoin is still climbing almost 12k each.

  16. Interesting to learn about Hedera.DLT [Distributed Ledger Technology] sure seems important addition for use in the cryoto world and as mention by you and Gail limited terms will surely reduce the chances of corruption or fraud.At present emphasis is on achieving faster and speedy transactions and being safe and secure at the same time

  17. I am not so excited by this addition of IBM. Knowing that IBM was involved in keeping a ledger in the Nazi camps, I am always uneasy when they are brought to any table of business. To see them listed as stewards of that platform scares me. Some would say adding IBM to Hedera adds validity. Thankfully there are limitations that make me feel a bit more comfortable.

  18. Wow, Hedera is quite the platform sounds like it is doing very well even now in 2020, 39 worldwide entities are great it makes me believe more in crypto knowing and finding out articles like these gives confidence to its success. I think more and more are adopting crypto in their lives it is spreading and becoming known.

  19. This is new information for me. I still need to understand a lot, but as far as I understand,
    Hedera is a decentralized public network where anyone can easily conduct very secure and reliable transactions and Hashgraph is a distributed ledger technology.
    The Hedera Hashgraph is a structure of distributed ledger technology such as blockchain that collects all the information in the form of a graph.

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