Cryptocurrency News

World’s Largest Aircraft Manufacturer Joins Hedera Hashgraph Council

Aerospace giant Boeing has joined the governing council for Hedera Hashgraph, a blockchain-like network for enterprises, CoinDesk has learned.

The Chicago-based aircraft and satellite manufacturer became the 10th member of Hedera’s governing council Thursday, joining the likes of financial services provider FIS Global, Tata Communications, Nomura Holdings and IBM.

Each member of the council runs its own node operating the hashgraph, and when the network’s open access launch takes place next month, these companies will also be able to use the Hedera Consensus Service, allowing members to plug private networks into the public network to take advantage of its transaction ordering system.

Hedera also claims that its distributed ledger technology can facilitate micropayments and distributed file storage and support smart contracts.

Hedera announced earlier on Thursday that it would begin distributing its HBAR tokens, a process that is expected to take 15 years. The company raised $124 million through three rounds of funding using a simple agreement for future tokens (SAFT) framework. Roughly 1,000 participants in the SAFT rounds will receive the first distribution of HBAR tokens.

Boeing, currently the world’s largest commercial aircraft manufacturer, as well as a major U.S. and international defense contractor, has made limited moves in the blockchain space to date. The company has previously filed for a patent outlining a blockchain system that could aid in-flight GPS receivers, as well as announced a joint project to improve unmanned aircraft.

Airbus, Boeing’s top rival, had previously joined the Hyperledger consortium, which IBM has also contributed to.

Boeing did not immediately respond to a request for comment.

Boeing image via Shutterstock

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