LG Electronics has joined Hedera Hashgraph, an enterprise-grade distributed ledger platform, as a governing council member, alongside companies including Boeing, Deutsche Telekom, Google and IBM.
The Hedera Governing Council is designed to enable the most decentralised governance model for a public ledger, and will comprise up to 39 global organisations from a diverse array of industries and geographies.
LG is the Council’s 14th member and its sole home appliance manufacturer. By joining the steering committee, LG says it aims to "go beyond blockchain" to usher in the next era of fast, fair and secure applications.
LG will work with Hedera and other members of the Council to identify ways that distributed ledger technology can benefit consumers and supply chain partners by enabling seamless transactions.
All members of the Hedera Governing Council will run a node on the Hedera Hashgraph public network and are responsible for approving Hedera’s roadmap and updates to the platform’s codebase. Members ensure the Council’s decentralisation and diversity.
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24 Jan 2020
“Distributed ledger technology holds the potential to improve customer value and allow enterprises across many sectors to offer new services that take advantage of the trust, security, and speed that it provides,” says Cho Taeg-il, senior vice president of LG Electronics.
“We look forward to being a part of the Hedera Governing Council and opportunities where we can collaborate with other leading organisations across a wide range of industries to further develop the application of distributed ledger technology to benefit businesses and consumers alike.”