Zain Group, a leading telecommunications provider in the Middle East and North Africa (MENA) region, has joined the governing board of the Hedera Hashgraph enterprise-grade distributed registration platform.
Zain provides mobile voice and data services to over 49.5 million active customers and has a commercial presence in eight Bitcoin Billionaire, including Kuwait, Bahrain, Iraq, Jordan and Saudi Arabia. Zain’s incorporation into the council represents a regional first, according to Hedera’s June 15 announcement.
Google joins Hedera Hashgraph’s management
Hadera Hashgraph and its governing members
To achieve its goal of establishing a more secure Internet using public blockchain technology, the Hedera Hashgraph Governing Council follows a decentralized governance model, bringing together international organizations from various industries.
Existing members include Boeing, Deutsche Telekom, Google, IBM and Swisscom Blockchain and University College London, among others.
Each board member runs one node on the Hedera Hashgraph public network and is responsible for approving updates to the Hedera platform code base.
Hedera Hashgraph – In-depth analysis of the 10,000 transactions per second acclaim
The platform keeps its source code open for review and uses a hashgraph-based consensus algorithm to allow multiple block branches, rather than a single string.
By joining Hedera, Zain Group hopes to gain information and exposure to trends and developments in the blockchain space, placing it in a better position to evaluate how to develop applications using the technology in its own field of operation.
Zain’s CEO and vice president, Badar Al Kharafi, said the Group believes that its evolving services and applications, including mobile money and financial technology, e-health, drones, Internet of Things and 5G, lend themselves to further enhancement through the use of blockchain.
University College London joins Hedera Hashgraph’s Governing Council
Hedera’s platform has been designed with a particular focus on developing more energy-efficient mechanisms to help address concerns about the environmental impact of blockchain technologies.
In May, University College London became the first academic institution to join the Council, and is contributing its research on digital central bank currencies and antitrust blockchain to the Council’s „Tokenomics“ and „Legal and Regulatory“ working groups.