LG Electronics Inc. (a well-known smartphone and TV company) and Hedera Hashgraph, a peer-to-peer accounting platform applied to the enterprise world, announced today that LG has joined the board of directors of Hedera. The council, created to enable a more decentralized governance model for distributed ledger technology, will include up to 39 global organizations from a wide range of industries and geographic backgrounds.
LG is the 14th member of the Board, joining Boeing, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, Magalu, Nomura, Swirlds, Swisscom Blockchain, Tata Communications, University College London (UCL) and Wipro . As the only home appliance manufacturer on Hedera's board of directors, LG will work with Hedera and other members to identify how various applications of distributed ledger technology can be beneficial to consumers and partners and enable smooth transactions.
All members of Hedera's Board of Directors will manage a node of Hedera Hashgraph's public network and will be responsible for approving the Hedera roadmap and updates to the platform code. The members ensure the decentralization and diversification of the Council.
Mance Harmon, CEO and co-founder of Hedera Hashgraph, said, “We are thrilled to welcome an industry leader such as LG to the board of directors of Hedera. For years LG has proven to be a visionary brand in its approach to innovation and the adoption of new technologies to foster improvement in the daily lives of consumers and partners. We look forward to collaborating with LG and their ecosystem to explore potential ways in which distributed ledger technology can be applied to benefit their customer base. "
"Distributed ledger technology has the potential to improve customer value and enable companies in many industries to offer new services that leverage the trust, security and speed it offers." He said Cho Taeg-il, senior vice president of LG Electronics. "We look forward to serving on the Hedera Board of Directors and having the opportunity to partner with other leading organizations across multiple industries to further develop distributed ledger technology application for the benefit of both businesses and consumers."
For more information, see the Hedera Governing Council official website https://hedera.com/council.
