Hedera Hashgraph – Council Members Announced (5 of 39)

– Hedera Hashgraph announces its initial group of governing council members. Let's get started. (upbeat music) Hi, Everyone. It's the Gossip Guy, your
source for news and developments from the world powered Hashgraph
and the Hedera ecosystem. And after almost one year of waiting, we're just learning now of the first group of companies that will be a
part of the governing council for Hedera Hashgraph,
five of 39 to be specific. In this video, we're gonna take a look at those five companies, who they are, and what benefits they
bring to the governance of Hedera Hashgraph public network, but before we get
started, let's take a look at what exactly the Hedera
Hashgraph Council is. Be sure to like this video if you find it to be helpful, or just a fan of distributed ledger
technologies including Hashgraph.

Okay, as a refresher, the
Hedera Hashgraph Council is the governing body
of the Hedera Hashgraph public network which is very
unique in its governance approach compared to other
distributed ledger networks like Bitcoin, Ethereum, EOS,
Ripple, among many others. The council consists of
up to 39 leading global organizations and enterprises
who are industry leaders in their respective fields,
and membership is designed to reflect the range of
industries and geographies. Each members are subject to term limits, and the council is designed
such that no single member has control of the network, and
the council cannot be unduly influenced by individual
members or node operators. Hedera's approach to
governance is closely modeled after the Visa Network which
was originally founded in 1968. Ultimately, the Hedera Hashgraph
Council holds fiduciary responsibilities to the
participants of the network. In a lot of ways, the council resembles a board of directors of a
publicly listed company.

If you wanna learn more about
the Hedera Hashgraph Council, be sure to check out
some of my other videos surrounding the topic. We first learned about the
council back in March of 2018 with the original announcement of the Hedera Hashgraph network. For the past year, we've been waiting to hear more about the membership. So without further delay, the
first five of 39 inaugural council members will be
telecommunications giant, Deutsche Telekom; global
law firm, DLA Piper; Brazilian retailer, Magazine Luiza; Japanese financial institution, Nomura; and Swiss telecommunications
company, Swisscom. If you ask me, this a
pretty impressive batch of enterprises making up the
first group of council members. Plus, some of these institutions
have already been active within the distributed ledger space. So let's take a look at
each of these companies that will be a part of the
Hedera Hashgraph Council starting in alphabetical order. (upbeat music) Based in Bonn, Germany, Deutsche Telekom is one of the largest
telecommunication companies in Europe and the world.

It operates several
subsidiaries worldwide including the iconic mobile communication
companies, T-Mobile. This past year, the company generated an estimated $80 billion in revenue, and has over 200,000 employees worldwide. Given the company is a leading
Internet service provider, it comes as no surprise that they've also been quite active in the
distributed ledger space. Housed within its T-Labs,
Telekom Innovations Group, the blockchain group at Deutsche Telekom has been working on several
use cases for DLT technologies, specifically within IoT
and identity management. The group has also been
developing hashtaX, a tool that combines
different distributed ledger technologies into an
enterprise-grade operating stack to enable ledger agnostic development of business-relevant
decentralized applications. The group has also been quite involved with Hyperledger Foundation,
a private permission ledger, so it comes as no surprise
that they would also be interested in being part
of Hedera's public network. (upbeat music) DLA Piper is global law
firm headquartered in London and Chicago with lawyers located in more than 40 countries
around the world. By many accounts, DLA Piper
is one of the top-five largest law firms in the world based on both total
head count and revenues.

Their clients range from
multinational, Global 1000, and Fortune 500 enterprises
to emerging companies developing industry-leading technologies. This includes more than
half of the Fortune 250, and nearly half of the FTSE 350. DLA has also been making a
push into DLT technologies, forming a global blockchain
group that offers strategic, regulatory, and transactional guidance to companies in nearly
every industry sector. The firm has also been a
leading advisor in the space, and has published extensive guidance surrounding hot topics as
the handling of open-source licenses in blockchain and
security-token offerings. Thus given the uncertainties
of global regulations and legal developments
surrounding distributed ledger technologies, it makes
sense that a global law firm like DLA Piper would be a great addition to Hedera's governance council, lending expert legal
advice to the network. (upbeat music) Magazine Luiza is one of the largest retail companies in Brazil. Headquartered in Sao
Paulo, its core products are home appliances, consumer
electronics, and furniture.

In 2018, the firm was on track to generate over $4 billion in total revenue. The company has over
800 locations in Brazil, along with a significant
e-commerce platform. Many often compare Magazine Luiza as a Amazon.com of
Brazil, no pun intended. The company has spent
the last several years transforming its business
for modern, omnichannel strategies in digital-ecosystem
participation. Despite the brutal regional economy and the complexities
of its transformation, Luiza has surged into a major e-commerce
player in Latin America. Behind all of this is the Luiza Labs Group that has been developing new
products for the company, and pioneers of the companies API first approach for
application development. The same labs team has been active in the DLT space looking
at ways to leverage the technology for e-commerce solutions. They've also been early
supporters of Hashgraph, hosting some of the first
meetups in Latin America. Simon Olson, Director of
New Business Development and Investor Relations for the company was also a guest speaker
during the inaugural Hedera '18 Developer Conference. Thus it's great to see
a transformative company like Magazine Luize join
Hedera's governance council, also considering their active role within the ecosystem already.

(upbeat music) Nomura Holdings, Inc.
or Nomura is a large, Japanese financial holding
company based in Tokyo. The company is a leading
global investment bank, and also offers asset management, retail banking, and
other financial services. In 2008, the company acquired
most of the Asia-Pacific operations and European
assets of the now defunct investment bank, Lehman Brothers. Since then, the company continues to grow its presence globally,
in addition to Asia. Like many financial service companies, Nomura is no stranger to
distributed ledger technologies.

Its whole market of Japan has been one of the leading markets
for DLT adoption globally. In 2018, Nomura announced
a venture focused on establishing a custody offering for digital assets geared
to removing barriers for institutional investors
in the crypto space. Most recently, the company
entered into a partnership with popular mobile-messaging
application, Line, to develop blockchain-based
broker services. Given their strong ties in
Asia and their forward-looking approach to distributed
ledger technologies, it's great to see an
organization like Nomura join Hedera's governance council. (upbeat music) And finally, Swisscom,
another major European telecommunications provider
based in Bern, Switzerland. The company is majority-owned
by the Swiss government, and generates over $11
billion in revenues. It's also the largest mobile
and broadband provider in Switzerland, a country
that has long stood for trust, neutrality, and security.

It should be noted that
Swisscom's operating subsidiary, Swisscom Blockchain AG,
will be the actual entity joining the Hedera Hashgraph Council. Swisscom blockchain is a developer of a distributed-ledger platform that offers various services
such as blockchain advisory, digital-asset custody,
blockchain-driven payments, and token-management
platforms among many others. Swisscom Blockchain has also been active in the Hedera ecosystem already, most recently hosting a training course for developers centered
around the Hedera SDK, thus it's great to see one
of the largest companies in Switzerland join
Hedera's governance council as part of its inaugural members.

So there you have it. Deutsche Telekom, DLA
Piper, Magazine Luiza, Nomura Holdings, and Swisscom Blockchain will make up the first five of 39 members of the Hedera Hashgraph Council. Two telecommunication
giants, a global law firm, financial institution, and
a leading e-commerce player all spread across Europe,
Asia, North and South America. This is a pretty noteworthy
list of reputable organizations that will likely provide valuable insights into the development of the network. This should also be telling of the caliber of the type of members
that will be expected to be announced in the months ahead. Now I know many folks in the cryptosphere are probably gonna be turned off by this, and they already think
that Hedera's centralized. However, I personally think that Hedera is gonna have the most
distributed governance model than any other public network out there. If Hedera is aiming to
be an enterprise-grade, distributed-ledger
platform, then a group of 39 globally-trusted institutions will likely be better suited to ensure
the longterm stability and continuity for the
network in the long run.

No one single entity or operator
will have complete control over the decisions of the network. Plus, governance is completely separate from consensus on the
network, which will eventually be powered by millions of
nodes spread around the world. So this wraps up this video. I'm curious to hear what your thoughts are surrounding this announcement, and if you have any
predictions of who else might be joining the governance council. That said, let me know what you think by leaving a comment down below, and let's have a discussion about it. I hope you found this
video to be informative, and if so, be sure to leave a like, and also consider subscribing
if you wanna stay posted on further news and developments
coming from the world powered by Hashgraph and
the Hedera ecosystem. Broadcasting from New York City, this is the Gossip Guy signing out. Thanks for watching.

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