Blockchain

LG Electronics joins Hedera Governing Council to drive DLT adoption

South Korean multinational electronics company LG has joined the Hedera Governing Council with the aim to accelerate innovation and drive mass adoption of distributed ledger technology (DLT).

LG is the fourteenth member of the council, which is spearheaded by decentralised cryptocurrency project Hedera Hashgraph, joining the likes of Boeing, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google and IBM.

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.

“We are thrilled to welcome industry leader LG to the Hedera Governing Council.” Said Mance Harmon, CEO and co-founder of Hedera Hashgraph.

“For many years, LG has been visionary in their approach to adopting new technology in the name of improving the lives of customers and partners worldwide. We look forward to collaborating with LG and their ecosystem to explore the many potential ways that distributed ledger technology can similarly be applied to benefit their customer base.”

Cho Taeg-il, Senior Vice President of LG Electronics, also had positive things to say about the partnership and distributed ledger technology as a whole, stating that it has the potential to “improve customer value and allow enterprises across many sectors to offer new services.”

Taeg-il added: “We look forward to being a part of the Hedera Governing Council and opportunities where we can collaborate with other leading organizations across a wide range of industries to further develop the application of distributed ledger technology to benefit businesses and consumers alike.”

For more news, guides and cryptocurrency analysis, click here.

Oliver Knight

Londoner ‘Ollie’ graduated from Birmingham City University with a journalism degree in 2016. He combines his writing with his love of crypto and blockchain here at Coin Rivet, saying “It disrupts well-established institutions (banks) while giving an avenue to the less fortunate to achieve financial freedom.” Like all true Londoners, his pet hate is… “People standing on the left-hand side of the escalators on the Tube!”.

Disqus Comments Loading...

Recent Posts

Here is why Bitcoin is still a lucrative investment in 2024

Those who enter the market at this time may be surprised to hear that Bitcoin…

8 hours ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

16 hours ago

The surge of Bitcoin NFTs: Everything you should know about Bitcoin ordinals

From digital art to real-estate assets, NFTs have become a significant attraction for investors who…

1 month ago

MEXC Partners with Aptos to Launch Events Featuring a 1.5 Million USDT Prize Pool

Singapore, Singapore, 21st October 2024, Chainwire

1 month ago