• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
    • Overview
    • Distribution by PR Newswire
    • Cision Communications Cloud®
    • Cision IR
    • All Products
  • Contact
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases
      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview
      • Multimedia Gallery
      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview
      • Trending Topics
      • All Trending Topics
  • Business & Money
      • Auto & Transportation
      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview
      • Business Technology
      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview
      • Entertain­ment & Media
      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview
      • Financial Services & Investing
      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview
      • General Business
      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview
  • Science & Tech
      • Consumer Technology
      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview
      • Energy & Natural Resources
      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview
      • Environ­ment
      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview
      • Heavy Industry & Manufacturing
      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview
      • Telecomm­unications
      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview
  • Lifestyle & Health
      • Consumer Products & Retail
      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview
      • Entertain­ment & Media
      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview
      • Health
      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview
      • Sports
      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview
      • Travel
      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview
  • Policy & Public Interest
      • Policy & Public Interest
      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview
  • People & Culture
      • People & Culture
      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview
      • In-Language News

      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Policy & Public Interest
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • People & Culture
    • People & Culture
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

Hedera Hashgraph Announces Initial Group of Governing Council Members

Council Members Represent Leading Global Brands Across Multiple Industries and Geographies; Will Be Showcased at First Annual Summit in Seoul, South Korea

Hedera Hashgraph (PRNewsfoto/Hedera)

News provided by

Hedera Hashgraph

Feb 20, 2019, 09:00 ET

Share this article

Share this article


DALLAS and SEOUL, South Korea, Feb. 20, 2019 /PRNewswire/ -- Hedera Hashgraph, a next-generation public ledger designed to have highly diversified governance and the most distributed consensus at scale, today announced the first members of the Hedera Governing Council, which will govern changes to the software run by millions of Hedera distributed nodes over time. The governing council will bring stability and guaranteed continued decentralization to the Hedera Hashgraph distributed public ledger. The initial members will be Deutsche Telekom, DLA Piper, Magazine Luiza, Nomura Holdings, Inc., and Swisscom Blockchain AG, representing some of the most respected names in the telecommunications, technology, financial services, legal, and retail industries globally.  The organization also shared a video stream from its first annual summit, held earlier today in Seoul, Korea.

Hedera's vision is to create a safer, fairer, more secure internet — one in which online communities can collectively create and evolve shared worlds in cyberspace, and on which developers can build trusted applications that enable safe collaboration and commerce, without entrusting a central organization with personal data. To realize this vision, Hedera has focused on addressing four fundamental roadblocks to the adoption of public distributed ledger technology — technology, security, stability, and governance.

Governing Council Ensures Long-Term Stability and Decentralization
Public distributed ledgers aim to provide decentralized systems, in which anyone can participate and benefit from them. But a peer-reviewed study from the Initiative for Cryptocurrencies and Contracts (IC3) at Cornell University, on "Decentralization in Bitcoin and Ethereum," found that the world's largest public ledgers have actually become more centralized over time. The study found the top four Bitcoin miners and top three Ethereum miners control more than 50% of the world's hash rate, in part due to the lack of a governance model that ensures continued decentralization.

The Hedera network does not require mining or proof of work, and further plans to address ongoing decentralization concerns by separating governance from consensus. The governance model is based on the original model used by National BankAmericard Inc., founded in 1968, and later renamed VISA. It 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.

"A general-purpose public ledger should be governed by representatives from a broad range of market sectors and geographies, each with world-class expertise in their respective industries," said Mance Harmon, CEO of Hedera. "With this inaugural group, we are demonstrating the caliber of organizations it takes to deliver long-lasting, stable governance for the industry's first enterprise-ready public ledger suitable for mission-critical applications. Hedera's governing members will provide the technical expertise to manage the technical roadmap, business expertise to manage business operations, expertise in economics and currency markets to manage the cryptocurrency, and legal expertise to help navigate the evolving regulatory environment. With the Hedera Hashgraph Council, you are seeing a true distributed governance model finally come to fruition, and we could not be more excited about this first group of council members."

Governing Member Remarks

"Distributed ledger technology is fundamentally changing business models and will evolve all types of systems in our society," said John Calian, Senior Vice President, Head of T-Labs & The Blockchain Group, Deutsche Telekom. "Hedera has uniquely thought through the security, governance and scalability concerns that have hampered early iterations of blockchain technology, and have created a public distributed ledger and governing council that will ensure long-term stability, distributed governance, and security. We are thrilled to be an initial governing member of the Hedera Hashgraph Council, to help shepherd this important technology as it is adopted by the market."

"DLA Piper has been at the forefront of helping organizations understand legal frameworks and issues in leveraging blockchain and distributed ledger technology (DLT) for a number of years now, and is also adopting such technology in its own client solutions," said Scott Thiel, Partner at DLA Piper. "Hedera uniquely enables many mechanisms within smart contracts - including Know Your Customer (KYC) and AML (Anti Money Laundering) compliance - which are significant breakthroughs in DLT. As we work to bring these kinds of technologies to our clients, we are pleased to join the Hedera Hashgraph Council as an inaugural governing member, to help further shape the adoption of DLT across organizations and governments globally."

"Switzerland has a long standing reputation as a trust anchor with its neutrality, stability and safety to conduct international business and accomplish consensus amongst nations and industries. Swisscom Blockchain AG capitalizes on the same brand of trust to enable effective, secure and compliant implementation of blockchain use cases by using a technology that brings organizations and industries together," said Kamal Youssefi Industry Lead Enterprise Blockchain, Swisscom Blockchain AG. "With their practical model for highly distributed governance and consensus, Hedera is visionary in the industry. They are designing one of the most fair, secure, and distributed ledger options, and we are proud to be an initial governing member of the Hedera Hashgraph Council."

"For 60 years we have been embracing new technologies to help us achieve our business goals.  In the early 1990s, we opened tiny showrooms — without physical inventory — in small towns that couldn't support our traditional store format, selling products "virtually" by showing customers video-taped images of the merchandise," said Simon Olson, Director of New Business Development and Investor Relations at Magazine Luiza. "We believe that distributed ledger technologies and decentralized applications represent a disruptive opportunity and are excited to be inaugural members of the Hedera Hashgraph Governing Council."

Legal and Technical Controls Ensure Continued Decentralization

Hedera will use a combination of technical and legal controls to give the governing council mechanisms to promote stability and ensure the network will never fork. The consensus model ensures that the Hedera network will expand to many millions of nodes voting on the order of transactions in a highly distributed network. For more information, please read the Hedera whitepaper at https://www.hedera.com/whitepaper.

About Hedera

Hedera Hashgraph is a public distributed ledger for building decentralized applications. Developers can build secure, fair, blazing-fast decentralized applications on top of the Hedera platform. For more information, visit https://www.hedera.com, or follow us on Twitter at @hashgraph, Telegram at t.me/hashgraph, or Discord at https://www.hedera.com/discord. The Hedera whitepaper can be found at https://www.hedera.com/whitepaper.

For Media Inquiries
Zenobia Godschalk
E: [email protected] 
T: 1.833.794.7537 x 717

SOURCE Hedera Hashgraph

Related Links

https://www.hedera.com

Modal title

Also from this source

Top 5 Global Utility EDF Joins Hedera Governing Council...

Top 5 Global Utility EDF Joins Hedera Governing Council...


Standard Bank Group establishes Africa's first Hedera network...

Standard Bank Group establishes Africa's first Hedera network...

Explore

More news releases in similar topics

  • Computer & Electronics
  • Computer Software
  • Telecommunications Industry
  • Internet Technology
  • Networks

    Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

    Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

    About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement

    • Asia
    • Brazil
    • Canada
    • Czech
    • Denmark
    • Finland
    • France
    • Germany
    • India
    • Israel
    • Italy
    • Mexico
    • Middle East
    • Netherlands
    • Norway
    • Poland
    • Portugal
    • Russia
    • Slovakia
    • Spain
    • Sweden
    • United Kingdom

    My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2021 Cision US Inc.