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.