The London School of Economics and Political Science (LSE) was today announced as the newest member of Hedera Hashgraph’s Governing Council, joining UCL as the second member from the higher education sector.
The Council is designed to be the most decentralised governance model for a public ledger in existence and is now comprised of 39 organisations.
Hedera Hashgraph is a decentralised entreprise-grade public network on which anyone can build secure, fair applications, and is owned by a clutch of world leading organisations: Boeing, Dentons, DLA Piper, EDF, eftpos, FIS [WorldPay], Google, IBM, LG Electronics, Standard Bank Group, and Tata Communications, among others.
Its distributed ledger technology (DLT) effectively allows for the sharing of information between two parties involved in a transaction and ensures that that information or data is in fact credible and authentic - without the need for a trusted intermediary. Transactions conducted via the DLT platform are not confirmed until all data fields and conditions are met. This creates a transparent environment and allows for trades to be settled faster and more efficiently.
LSE is renowned for its academic and thought leadership around digital platforms and Web 3.0 and already has experience collaborating with central banks, regulators, and industry practitioners to bridge the gap between research and application of DLTs.
Dr Carsten Sorensen, associate professor (reader) in digital innovation, Department of Management, LSE, states: “Joining the Hedera Governing Council provides a significant step forward in extending our research collaboration and knowledge sharing of digital transformation. In doing so, we aim to significantly extend our research footprint in understanding how DLT and blockchains can play a positive impact on society in pioneering digital sustainable projects.”
Thamim Ahmed, senior research associate, LSE Enterprise adds: “Impacts of Covid-19 and climate change are demanding new intellectual models of how we work, live and play together in a metaphysical world.
“The underlying features of a blockchain, act as a coordination technology, which can create efficient marketplaces, from typically illiquid environments that are not naturally connected or trustworthy. Thus, blockchains will give rise to emerging business models and opportunities, as shared ledgers will change organizational and institutional structures of an economy.”