Google announced that it has joined IBM, Tata Communications, Boeing and others on the governing board of the Hedera Hasgraph encryption network
Google announced on Tuesday (02/11/2020) that it had joined the Board of Governors of Hedera Hasgraph, as reported by Decrypt.
The council prepares the strategic direction of the network, taking care of stability and reliability. Google will run a node in the Hedera network and also make the data available for analysis.
Google will offer extensive geographic coverage and great infrastructure for the growth of the project.
Hedera already takes advantage of the premium network layer of the Google Cloud Platform. According to Atul Mahamuni, senior vice president of products at Hedera, said in a statement that “Google Cloud Platform was the perfect foundation to help us achieve our goals of increasing enterprise-ready DLT adoption”.
Other companies on the board, totaling 39, include IBM, Tata Communications, FIS Global, Nomura Holdings, Deutsche Telekom, Boeing, and DLA Piper.
According to CoinGape, right after the partnership with Google, Hedera Hashgraph has skyrocketed exponentially in the last 24 hours, the digital asset has increased by more than 100%.
After the news, HBAR tokens rose from $ 0.029 to $ 0.05283. The market value grew to US$ 184,410,022, which leads the currency to rise to 46th in the ranking.
The most recent gains lead HBAR to a total return of more than 600% in the last month, having started below $ 0.01.