Zain Group, a leading telecommunications provider in the Middle East and North Africa (MENA), He joined the government council of the distributed registration platform Hedera Hashgraph for companies.
Zain offers mobile voice and data services to more than 49.5 million active customers and has a commercial presence in eight countries in the MENA region, including Kuwait, Bahrain, Iraq, Jordan and Saudi Arabia. Zain’s admission to the council is a regional premiere, according to Hedera’s announcement of June 15.
Hadera Hashgraph and its ruling members
In order to achieve its goal of creating a more secure Internet using public blockchain technology, the Hedera Hashgraph Governing Council follows a decentralized governance model in which international organizations from different industries come together.
Existing members include Boeing, Deutsche Telekom, Google, IBM and Swisscom Blockchain as well as the University College London.
Each council member operates a node in the Hedera Hashgraph public network and is responsible for approving updates to the Hedera platform code base.
The platform keeps its source code open for review and uses a hash-based consensus algorithm to allow multiple branches of blocks instead of a single chain.
By joining Hedera, the Zain Group hopes to gain insight and insights into trends and developments in the blockchain space to better assess how technology can be used to develop applications in its own area of activity.
Zain’s CEO and Vice President Badar Al Kharafi told the group The evolving services and apps, including mobile money and financial technology, e-health, drones, the Internet of Things and 5G, are suitable for further improvements through the use of blockchain.
Hedera’s platform was developed with a special focus on developing more energy-efficient mechanisms to address concerns about the environmental impact of blockchain technologies.
In May, University College London became the first academic institution to join the Council, bringing its research into central bank-issued digital currencies and blockchain antitrust law to the Council’s “Tokenomics” and “Legal and” Regulatory “working groups.