News Boeing and FIS Global join Hedera Hashgraph’s governing council

Boeing and FIS Global join Hedera Hashgraph’s governing council


- Advertisment -

Aerospace manufacturer Boeing and financial services company FIS Global have joined the governing council of Hedera Hashgraph, a proof-of-stake blockchain with impressive backers. Boeing joined today and FIS Global yesterday, and the two companies have a combined market cap of $287 billion.

Boeing and FIS Global are but the latest addition to Hedera’s governing council; a roster of A-Class companies with deep pockets. Earlier this month, Hedera welcomed IBM and Tata Communications into the fray, and other members include Japanese investment bank Nomura and German telecommunications giant Deutsche Telekom. 

But not everyone’s welcome to Hedera’s club, unfortunately: according to Hedera’s whitepaper, the total number of members in the council is limited to 39. 

The governing council is primarily in charge of the Hedera codebase. The codebase will be released to the public, but the Hedera council will have the final say on changes to ensure its integrity. Hedera’s whitepaper says that this will make sure the platform doesn’t fork, preventing the rise of competing platforms or cryptocurrencies. The council will also set the rules of the network and manage the platform’s treasury of coins.

Each member of the council has equal voting rights so that no one member, or small groups of members, will have excess influence over the network. 

Aside from governance and security, Hedera Hashgraph’s main game is speed. Bitcoin and Ethereum can only process 3-15 transactions per second, but Hedera’s mainnet, which will launch September 16, will be throttled to 10,000 transactions a second. And Hedera promises to up that number later in the year.



Please enter your comment!
Please enter your name here

Latest news

What’s the future of decentralized blockchains?

When Bitcoin was new and not valued at anything or just a few cents anyone could join...

My 5 favorite free crypto tools & sites I use daily

So I often get asked by friends, or people visiting my site about new tips for exciting...

Cryptocurrency is The Last Kingdom Where You Can Keep Your Data Private

Data privacy has been a hot topic for quite some time now and particularly after the popularity...

How To Travel With Bitcoin: 9 Travel Companies Accepting Bitcoin

Bitcoin travel is a reality, as several travel companies now accept payments in cryptocurrencies for their services.
- Advertisement -Boeing and FIS Global join Hedera Hashgraph’s governing council

Top 5 Ways To Build a Profitable Business in The Crypto Sector

The crypto industry has grown significantly despite criticism and a skeptical approach from regulators across the globe....

These 8 Cryptocurrencies Will Survive the Next Decade

Cryptocurrency is the future, we all have reasons to believe it. But are people ready...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you