Public Distributed Ledger Hedera Announces IBM As Council Partner

The coming altcoin news this week include a new partnership of the horizon, this time between the public distributed ledger and IBM, one of the leading tech companies in the field of blockchain. The ledger Hedera Hashgraph announced that IBM and Tata Communications have joined its governing council.

As the news release shared on August 12 noted, the platform gets an addition of two firms as a “powerful endorsement” of its hashgraph consensus mechanism. The public distributed ledger Hedera Hashgraph will pursue a lot of new opportunities with this.

As the CEO of Hedera Mance Harmon said, IBM and Tata Communications will further decentralize the platform and its governance. They added:

“Our governance model, which includes a robust system of checks and balances, ensures power can’t be consolidated, while at the same time providing a stable and scalable platform on which developers can build.”

The latest cryptocurrency news also show that up to 39 multinational entities will make up the Hedera Governing Council. Each of these members can serve a maximum of two consecutive three-year terms. Moreover, they will be responsible for eliminating the risk of forks and guaranteeing the integrity of the codebase.

The public distributed ledger Hedera will benefit from the governing council. As Leemon Baird, who is the co-founder and chief scientist of the company said:

“The members of the governing council are the actual owners of the company. They aren’t just advisers. They are Hedera. So, Hedera is an LLC that is split 39 ways — 39 companies own it, control it, and make all the decisions.”

Meanwhile, it seems like IBM and Tata Communications are both “excited” to join the network according to their statements on many best cryptocurrency news sites. The vice president of blockchain at IBM, Jerry Cuomo, described Hedera as “de facto standard enterprises use to build, manage and deploy blockchain-based ledgers” and added that he believes this platform could enhance and simplify the deployment of Hyperledger Fabric in enterprise environments

“Innovations such as DLT, AI, and IoT change the way organizations and people interact with each other and with the world. These emerging technologies can be harnessed to strengthen our efforts to improve operational efficiencies and enable our customers’ digital transformation worldwide,” the global hed of corporate venturing and innovations at Tata Communications concluded.