HBAR Crypto News: The Hedera Governing Council consists of up to 39 highly diversified organizations that govern the Hedera network, which runs on its proprietary hashgraph technology. Hedera welcomed its newest member on Feb. 7, with multinational technology company Dell becoming the 28th member to join the board. The governing body already includes a number of high profile companies such as Boeing, IBM, Google, LG, Ubisoft and others.
Dell joins Hedera’s board of directors
As an active member of the Hedera Council and the network, Dell will gain first-hand experience of the opportunities offered by running its own Hedera node and developing applications on the network. According to the official announcement, Dell will work closely with the Hedera team to build DApps for highly decentralized mission-critical environments such as edge computing, and will openly share the results for the collective learning of the industry.
John Roese, the Global Chief Technology Officer at Dell, was quoted as saying:
By gaining hands-on experience with distributed ledger technology, we can serve as a rational, holistic voice for clients considering incorporating DLT into their digital transformation.
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Dell’s inclusion in the Council is also in line with the company’s other data decentralization initiatives. These initiatives include Project Alvarium, a Data Confidence Fabric that can measure trust in data and is designed to ensure that distributed systems produce data with a higher level of confidence.
Hedera’s (HBAR) core objective
Hedera’s primary goal is to establish a publicly distributed network that is both secure and reliable enough to entice large companies to build on it. And the fact that Hedera is semi-permissionless, councilors run consensus nodes to eliminate the need for network forks that have occurred with Bitcoin, Ethereum, and other cryptocurrencies in the past. The board of directors is also responsible for making decisions about strategic initiatives.
The history of Dell’s involvement in blockchain and cryptocurrency goes back almost a decade. In 2014, it began partnering with Coinbase to allow customers to make purchases using bitcoin as a payment option. However, being a member of the Hedera council appears to be the first public move related to blockchain technology in quite some time.
In response to this recent HBAR crypto news, the price of Hedera (HBAR) has surged to $0.079 at the time of compilation. And according to the crypto market tracker published by CoinGape, this results in a 13% growth over the past 24 hours, as opposed to a 17% jump over the past seven days.
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Pratik has been a crypto evangelist since 2016 and has experienced almost everything crypto has to offer. Be it the ICO boom, the bear markets of 2018, Bitcoin’s halving so far – he’s seen it all.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
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