This Tech Giant’s Entry Increases Hedera (HBAR)’s Price by More Than 13%
HBAR Crypto News: Hedera’s Governing Council is made up of 39 diverse organizations that govern the network. It uses its proprietary hashgraph technology. Hedera welcomed its 28th member, the multinational technology company Dell, to the council on February 7. The governing body already includes high-profile companies such as Boeing, IBM and Google, as well as Ubisoft, Ubisoft, LG, Ubisoft, and others.
Dell joins Hedera’s Governing Council
As an active member of Hedera Council, and network, Dell will have first-hand experience with Hedera’s opportunities and develop applications on the network. According to the official announcement, Dell plans to work closely with the Hedera team in order to build DApps for highly distributed mission-critical environments like edge computing. It will also openly share its results for industry learning.
John Roese, Global Chief Technology Officer at Dell, was quoted as saying:
We have hands-on experience using distributed ledger technology and can offer a rational, holistic voice to customers who are considering incorporating DLT in their digital transformation.
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Incorporating Dell into the Council is also in line to other initiatives of the company that focus on decentralization. Project Alvarium, a Data Confidence Fabric, is one example of such initiatives. It is capable of measuring data trust and was created to ensure distributed systems produce data that is more reliable.
Hedera’s (HBAR), Core Objective
Hedera’s primary goal is to create a public distributed network that is secure and reliable enough for major corporations to use it. Hedera is semi-permissionless. Council members run consensus nodes to eliminate the need of network forks that have been common with Bitcoin, Ethereum and other cryptocurrencies. The governing council is also responsible to make decisions about strategic initiatives.
Dell’s involvement in blockchain and cryptocurrency goes back almost a decade. It began working with Coinbase in 2014 to allow customers to pay for their purchases using bitcoin. Its first public move in blockchain technology since a while would be to become a member the Hedera council.
In response to the recent HBAR crypto news the price of Hedera (HBAR), moved to $0.079 at time of composition. According to CoinGape’s crypto market tracker, this means that the price of Hedera (HBAR) has increased by 13% in the last 24 hours, compared to 17% in the past seven days.
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