Korean Electronics Giant LG Joins Hedera Governing Council To Drive DLT Adoption

Korean Electronics Giant LG Joins Hedera Governing Council To Drive DLT Adoption

May 28, 2020

Korean electronics giant LG has officially joined the Hedera Governing Council, the governing body of enterprise-grade distributed ledger Hedera Hashgraph.

Hedera Hashgraph is designed to have highly diversified governance and the most distributed consensus at scale. It enables organizations to build enterprise-grade applications that address issues such as latency on cryptocurrency transactions, confidence and efficiency in the verification of smart contracts, and secure and transparent storage of files.

As a Council member, LG joins Google, IBM, Tata Communications, and many more in driving adoption of Hedera and running a node on the distributed network. LG will work with Hedera and other members of the Council to identify ways that distributed ledger technology can benefit consumers and supply chain partners by enabling seamless transactions.

“Distributed ledger technology holds the potential to improve customer value and allow enterprises across many sectors to offer new services that take advantage of the trust, security, and speed that it provides,” said Cho Taeg-il, senior vice president of LG. “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.”

According to the report, Council members are also responsible for approving Hedera’s roadmap and updates to the platform’s codebase. The Council will comprise up to 39 global organizations from a diverse array of industries and geographies.

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

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