LSE joins the Hedera Governing Council

The London School of Economics (LSE) has joined the Hedera Hashgraph governing council.

Announced on August 19th, 2021, the delegation carries with it the responsibility to run a mainnet consensus node, vote on direction of the Hedera codebase and to provide treasury management to ensure overall network safety.

The London School of Economics is an “elite research university” which was founded in 1895 in Westminster, Central London.

Known for its prestige and focus on research in the social sciences, 27% of all Nobel Memorial Prizes in Economics have been awarded or jointly awarded to the university’s alumni.

The school’s alumni have also won 3 Nobel Peace Prizes and 2 Nobel Prizes in Literature.

London School of Economics and their Blockchain and Distributed Ledger Technology (DLT) Research

LSE has dipped their toes into blockchain and DLT research before and with this appointment to be on Hedera Hashgraph’s governing council, new opportunities will arise.

Students and faculty will be able to join hackathons, provide thought leadership and seek out new research opportunities related to distributed ledger technology.

Dr. Carsten Sorensen, an Associate Professor in digital innovation in the Department of Management commented on the exciting opportunity:

Upholding our responsibilities for pioneering academic research, we quickly recognized the enormous opportunities public and private blockchain can play in future digital transformation. 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 also spoke glowingly of the partnership:

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.

Hedera Hashgraph now has 22 organizations on its governing council

The LSE is the 22nd organization to join the Hedera governing council and the second university, following the University College London.

Mance Harmon, CEO and Co-founder of Hedera spoke highly of LSE and their new appointment to the council:

As a world renowned, top-ranked academic institution, LSE’s inclusion on the Hedera Governing Council is a fantastic development for our community, and the entire decentralized economy. LSE’s motto is the ‘betterment of society,’ and this ethos will transcend to aiding a greater understanding of future digital transformation, aided by public distributed ledgers. The team at the LSE have built up an outstanding reputation in advancing the research sharing capabilities of the industry, which we recognize as a significantly important addition to the Hedera Governing Council.

Other notable governing council members include Google, IBM, LG, Boeing, Deutsche Telekom and Chainlink.

This recent governing council announcement was much anticipated, as there hadn’t been a new council member announcement since May of this year.

Hedera is committed to decentralizing the Hashgraph network

The organizations that make up the Hedera governing council are carefully chosen and spread out across the world in different industries.

Every time a new member is added to the council, the Hedera Hashgraph network becomes further decentralized.

Hedera is expected to add a new member to the council every 30-60 days, until the council sits at 39 organizations or enterprises spread out between different industries, academia and non-profit organizations.

Decentralization is a key component for Hedera, which aims to be the most sustainable, enterprise-grade public network available in the world of the decentralized economy.

Hedera hangs its hat on its network’s high-security, low transaction fees and high throughput, with an estimated 10,000 transactions per second.

Here is a video of Dr. Leemon Baird explaining the decentralization of the Hedera Network:

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