The tech giant Dell Technologies Inc. will be joining the governing council of the distributed ledger company Hedera Hashgraph LLC.
Dell Exploring DLT
According to the team at Hedera, tech giant Dell is going to step into the company’s governing council in order to gain access to distributed ledger and Web3 technologies. Dell will be running its own Hedera node to develop its own distributed applications. This, in turn, will allow the firm to gain deeper insight into how to improve customer experience through DLT. Speaking on the decision to join Hedera, Global CTO at Dell, John Roese claimed,
“Our customers rely on us to both maintain and help secure their existing infrastructure as well as advise them on technologies they are considering to assist them in achieving their goals, whether it is in process optimization, new business models or meeting their [environmental impact] standards…By gaining hands-on experience with distributed ledger technology, we’re able to serve as a rational, holistic voice for customers considering incorporating DLT into their digital transformation.”
Hedera Focused On DLT-Led Applications
Currently, the Hedera distributed network is governed by 39 organizations, which are all on the governing council. Other technology companies already on the governing council include IBM Corp., Google LLC, LG Electronics, Ubisoft, and Boeing Co.
Hedera’s core principles are based on using distributed ledger technologies to provide customers with cost-effective and efficient solutions to access peer-to-peer information channels. For example, DLT has been used extensively to automate tracking and tracing in order to improve efficiency and reduce errors in supply chain modules.
The Co-Chair of the Membership Committee for the Hedera Governing Council, Bill Miller, shared his two cents on the collaboration with Dell,
“Like Hedera, Dell has innovation and scale at its core. Dell’s insight and decades of computing experience will bring even more expertise and innovative thinking to the Hedera Governing Council.”
Understanding Policy Implications
The technology company will run a consensus node on the Hedera DLT, which uses a hashgraph consensus mechanism. It will help determine transaction ordering and allow the governing council members to manage the software associated with the network.
The Senior Director of Technology Strategy, David Frattura, stated that the purpose behind the exercise was to understand the policy implications and processes necessary to be a part of a permissioned public ledger and how to set it in motion.
Frattura stated,
“The reality is we’re looking at this as a technology-specific point of interest for us. It’s not about being a crypto exchange, it’s about how does this technology solve problems for enterprises. And for us, as a company, how can we potentially leverage it to better serve our customers and improve our processes and potentially build products.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.