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Hedera Adds COFRA as a New Member of Governing Council

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Hedera Adds COFRA as a New Member of Governing Council

  • In recent months, Hedera has welcomed a growing number of projects and enterprises.
  • The Hedera governing council recently added Dell to the 30-member committee.

The open-source Hedera proof-of-stake public network’s governing council today announced the addition of COFRA as a new member. Thus bringing the total number of councils to 30 members. COFRA is a family firm that has been around for 182 years. And now employs more than 60,000 people all across the globe.

Customer-focused COFRA has joined the Hedera Governing Council (HBAR) with the goal of developing innovative blockchain-based solutions on the platform, beginning with tokenization and supply chain transparency. Tokenized versions of physical assets are expected to be distributed by the company via Hedera’s proprietary Token Service (HTC).

Simon Olson, co-chair of Hedera’s membership committee stated:

“COFRA has a long, successful track record of building coalitions to tackle difficult problems and we believe that they will contribute enormously to Hedera.”

Well-known Members in Council

In recent months, Hedera has welcomed a growing number of projects and enterprises from a wide range of industries. In order to cut out middlemen and bring down transaction costs, these initiatives use Hedera’s foundational services including the Hedera Token Service (HTS) and the Hedera Smart Contract Service (HSCS).

Already well-known firms such as IBM, Dell, LG, Boeing, and others are represented on the Hedera Governing Council. Market participants believe that if the general cryptocurrency market becomes positive, the price of HBAR might grow considerably as a result of these events and Dell’s recent admission to the 30-member committee.

Hedera is presently trading at $0.05277 in reaction to the latest HBAR cryptocurrency news, a gain of 2.11% in the last 24 hours, as per data from CMC.

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