Hedera Hashgraph names Deutsche Telekom, Nomura, Swisscom as governing members

Hedera Hashgraph the public distributed ledger, modeled its governance on the founding days of VISA, a sign of its ambitions. Today it announced the first five corporate members to its governing council: Deutsche Telekom, DLA Piper, retailer Magazine Luiza, Nomura, and Swisscom Blockchain AG. This follows its announcement in August last year that it raised $100 million from institutions and high net worth individuals and eventually a total of $124 million. The platform opened for testing in December. Hedera is not a blockchain; it’s a hashgraph. The company claims it can process hundreds of thousands of transactions per second on a single shard which is a group of servers. Concerning consensus, it uses asynchronous Byzantine Fault Tolerance, and hence they assert the platform is less vulnerable to denial of service attacks. Hedera aims to tackle many of the issues it sees with other public blockchains in the areas of performance, security, stability and governance. But it’s been some time for the first external governing council members to be announced. When Ledger Insights spoke to Mance Harmon last April, there were advanced discussions with ten members out of a total up to 39 potential seats. The aim is to represent 18 different sectors. Now that the first five members have been announced, doubtless it will be easier to attract future participants.

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