Indian telecom company Tata Communications and IBM have partnered a new venture of a corporate-oriented blockchain – the governance council of Hedera Hashgraph. The network announced eight of the 39 available spots for governing council members are filled.
Our goal is to create the most decentralized governing body of any of the major public platforms, Mance Harmon, CEO of Hedera, told Coindesk. We’re covering multiple industries … and we want global coverage.
Tata is the first Indian company, whereas IBM is the first major tech company to join the network. Hedera Hashgraph said that adding TATA and IBM would be a powerful endorsement of the Hashgraph consensus mechanism that would help further decentralize the governance of Hedera Hashgraph.
Hedera Governing Council members have equal say in approving updates to the Hedera Blockchain platform codebase and protects users by eliminating the risk of forks, guaranteeing the integrity of the codebase, and committing to making the source code open for review.
Hedera, after three rounds of financing, has raised $124 million. It is anticipated that Hedera would be able to provide an exciting way to enhance and simplify the deployment of Hyperledger Fabric in the enterprise, making it easier for groups to build and grow their networks.