- This collaboration aims to create proof-of-concepts for end-to-end supply chain and sustainability solutions on the Hedera
Distributed Ledger Technology (DLT) platform using the company’s industrial solution expertise.
- In particular, this partnership promises transformative results for real-world industry use cases, in addition to committing to innovation and decentralization within the Hedera network.
- According to Vice President Ravigopal Vennelakanti, the decision to join the Hedera Council is based on the belief in the real-world potential of DLT solutions offered by Hedera.
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The U.S. company announces its membership in the Hedera Council: What are the goals of this collaboration? Details!
Hedera Announces New Collaboration Today
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As a significant step towards advancing practical applications of Web3 technology, Hitachi US has officially become the newest member of the Hedera Council. This collaboration aims to leverage Hitachi’s industrial solution expertise to create proof-of-concepts for end-to-end supply chain and sustainability solutions on the Hedera Distributed Ledger Technology (DLT) platform.
In particular, this partnership promises transformative results for real-world industry use cases, in addition to committing to innovation and decentralization within the Hedera network. The Hedera Council proudly welcomes Hitachi America, Ltd. as its newest member, signifying a strategic alliance aimed at exploring the full potential of Web3 technology. According to the latest Hedera X post, Hitachi, a leader in electronics, health, energy, and IoT solutions, brings extensive experience in industrial expertise to the Council.
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As announced on Hedera’s blog, this collaboration aims to develop comprehensive proof-of-concepts for supply chain and sustainability solutions using distributed ledger technology (DLT) practical applicability within the next year.
Meanwhile, according to Hitachi’s Vice President Ravigopal Vennelakanti, the decision to join the Hedera Council is based on the belief in the real-world potential of DLT solutions offered by Hedera. Recognizing Hedera’s scalability, security, and commitment to sustainability, Hitachi sees opportunities to address challenges in supply chain resilience, clean energy, IT/OT, and semiconductor industries.
Hitachi’s proven technological capabilities in blockchain solutions for payment systems, supply chains, predictive maintenance, and mining make the company a valuable asset for the Council.
Excitement Over the Collaboration
Co-Chair of the Hedera Council’s Membership Committee, Bill Miller, expresses excitement about Hitachi’s participation, highlighting the company’s history of developing future technology for various industries. Acknowledging the increasing appeal of Web3 infrastructure for large companies, Miller emphasizes the need for transparency and accountability in today’s complex systems.
In particular, the collaboration hopes that Hitachi will bring innovations that could lead to large-scale transformation in distributed ledger technology. Additionally, the integration of Hitachi’s technical expertise and innovative industry use cases into the Hedera Council paves the way for groundbreaking developments in Web3 solutions, providing insight into how decentralized technologies are powerful in solving real-world problems.
Meanwhile, Hedera’s commitment to ecosystem development is clearly evident in recent developments. For instance, as reported by COINOTAG, the Council has approved a strategic move allocating approximately 5 billion of Hedera Hashgraph’s native cryptocurrency HBAR to support network growth.
This significant investment emphasizes Hedera’s commitment to advancing decentralized governance and ecosystem development, strengthening key initiatives that shape the future evolution of the network. However, despite positive developments, the HBAR price has dropped by 0.67% to $0.0792 as of writing, influenced by the overall decline in the cryptocurrency market.