Tata Communications and IBM have decided to join the board that provides for the management of the governance of Hedera Hashgrapha blockchain public which is intended primarily for businesses.
IBM is one of the largest technology companies, however Tata is one of the first Indian companies which operates in the telecommunications field and which allows it to join the network.
The other members that are part of the network are all companies operating nationally and internationally, and in any case large. Among these we find: Deutsche Telekom, the Japanese holding Nomura, the law firm DLA Piperù. At the moment of the 39 seats available for the board only eight have been assigned.
Create a decentralized governance body
In accordance to reported by the CEO of HederaMance Harmon explained that the goal is to create a governance body that is as decentralized as possible from any other public blockchain. For this reason we are trying to cover various industrial sectors and we need to get to as a consequence of global coverage.
Hedera claimed that the its distributed accounting network, which works differently than other types of Blockchain, and which facilitates both the storage of files and some micro-payments. Not only that, it will also be possible to support smart contracts and various private networks they will be able to connect to a public network, in this way it will be possible to take advantage of the mechanism for sorting the various transactions.
Hedera raised approximately $ 124 million thanks to various funding obtained from future tokens.
Tata and IBM: the reasons for joining Hedera
IBM and Tata joined the board of Hedera Hashgraph, occupying two of the 36 places available. IBM has shown a strong interest in Hedera in particular for the particular mechanism of interaction between the various public and private networks.
As stated by Bryan Gross, the manager of the IBM Blockchain: One of the most interesting parts is certainly the Hedera Consensus Service. It has the potential to be able to deliver true basic innovation from the blockchain based on proof of work, such as BTC and Ether. All without any compromise in terms of privacy and performance that are associated with these networks.
IBM has chosen to use Hedera Hashgraph to create a solid trust mechanism based on the Hyperledger Fabric networks. The Hedera Consensus Service allows Hyperledger-based projects to order the various transactions by eliminating the necessary creation of ad hoc nodes for the execution of this operation, relying on to a typical model of the public network.
Tata Communicationsinstead, wants to use a distributed accounting technology that allows to improve the operational efficiency of the company.
