University College London (UCL) has joined Hedera Hashgraph, the board of directors of the distributed general ledger platform for businesses.
Paolo Tasca -ex-former cryptocurrency economist at the German Central Bank and founder of the UCL Center for Blockchain Technologies- confirmed that the university is the first academic institution to join the Council.
In an interview with Cointelegraph on May 6th Tasca said joining the council is in line with the university’s experimental and practical research approach, which is manifested in a number of programs for industry engagement..
The Hedera Hashgraph Governing Council follows a decentralized governance model that aims to bring up to 39 international organizations from different industries together. Current members include Boeing, Deutsche Telekom, Google, IBM and Swisscom Blockchain.
Each board member operates a public Hedera Hashgraph network node and is responsible for approving updates to the platform’s code base. Hedera.
The platform, This leaves your source code open for review. It uses a hash-based consensus algorithm to allow multiple branches of blocks instead of a single chain.
UCL’s plans for his work in Hedera
Tasca told Cointelegraph that UCL will draw on its extensive network of research and industry employees. -a community of more than 180 employees- for her contribution to the various working groups in the Hedera Governing Council.
These include the ongoing work of the digital central bank currency (CBDC) with several central banks, which is relevant for tokenomics, the new Council working group.
UCL will also contribute its blockchain cartel expertise to the Council’s Law and Regulation Working Group.
In addition to his government duties and the contributions of the working group Tasca said the university plans to use its partnership with Hedera to participate in researching the hash graph consensus mechanism..
To promote the blockchain adoption of Hedera, researchers are involved in projects that use hash graphas did initiatives in its call for proposals. Students and industry partners are also invited to participate in hackathons such as the block sprint in the city center.
The work of the center
As previously reported UCL’s Blockchain Technology Center recently partnered with the European Commission and the International Association of Trusted Blockchain Applications to coordinate blockchain solution providers to fight the COVID-19 pandemic.
As Tasca has emphasized, the center, in addition to its engagement initiatives with industry, focuses on educational and research projects on technological, business and economic aspects as well as on legal and regulatory aspects of distributed general ledger systems.
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