Hedera Hashgraph is a public network that debuted in 2016 as an alternative to blockchain technology. Based on Directed Acyclic Graph (DAG), it uses “gossips about gossips” protocol to validate & confirm transactions.
Hedera was founded by Dr. Leemon Baird and Mance Harmon. It was launched by Swirlds, a company co-founded by Dr Leemon. Hedera network claims to process 10000+ transactions per second with 2.93 sec finality. It is owned and operated by governing council of global enterprises which includes Google, IBM, TATA Communications and several others.
Let’s take a look at the Hedera Partnerships –
1. Hedera Hashgraph partnership with Ubisoft:
Ubisoft Entertainment is a French gaming company founded in March 1986. It is known for producing blockbuster games like Far Cry, Prince of Persia and more. Hedera & Ubisoft joined hands to work together in leveraging the Hedera technology for developing blockchain games.
As part of the agreement, Ubisoft has joined Hedera Governing Council & operates Hedera node on its network. Moreover, Ubisoft is setting up Ubisoft Entrepreneurs Lab to support startups focused on the future of the entertainment industry. The partnership came amid the backlash of gamers against NFT integration in the gaming industry.
2. Hedera Partnership with Google:
Google Cloud is one of the council members of Hedera Hashgraph. It has partnered with Hedera to provide a scalable, secure & reliable infrastructure while strengthening its cloud services for decentralized applications like Audius and DLT networks.
According to research conducted by Fundstrat, Hedera has the potential to generate over $1.9 billion across the network by 2024. All thanks to its partnership with Google Cloud. Moreover, Google will also take care of Hedera’s infrastructure, protocol & products to establish a layer of trust among other enterprises.
3. TATA Communications join Hedera Hashgraph:
Indian-based company TATA Communications has joined Hedera governing council to make key decisions that can help grow the network usage, global adoption and developer community. Like Ubisoft, TATA will also run the Hedera node using its own infrastructure.
Acc. to the statement released by TATA Communication’s VP Ankur Jindal, TATA has joined Hedera to help shape the next generation of public internet infrastructure. He strongly believes that Hedera technology is at par with the existing blockchain technology.
4. LG Electronics partners with Hedera:
LG Electronics joined the Hedera governing council in 2020. Recently, it announced non-fungible token (NFT) trading platform integration into its smart TVs. Starting with the United States, the owners of LG smart television will be able to view and trade NFTs directly from their television screen.
The platform named LG Art Lab by LG Electronics is built on top of Hedera network and mints art NFTs using Hedera Token Service. It will be the first time that television will showcase NFT and allow users to trade it at the same time. Every detail related to the NFTs will be available on the platform itself.
5. Indian Institute of Technology joins Hedera:
India’s leading technology university Indian Institute of Technology Madras joins Hedera governing council. This will be the first time an Indian university has collaborated internationally with Hedera Hashgraph.
The motto behind joining the governing council is to expand its footsteps into understanding distributed ledger technology. Apart from IIT-Madras, London School of Economics & Political Science also announced its membership with Hedera.
These are some of the interesting partnerships that can boost the growth of Hedera community & network for the next 5 years. Ofcourse, the partnerships are expanding since Hedera has 39 council members like IBM etc and growing. It will be interesting to watch its progress.
This completes my post on Hedera Hashgraph Partnerships. Stay tuned for updates. In the next post, I will talk about Burger Runner (BUSD) game & Crypto.com partnerships. If you’re a fan of blockchain technology then do share this post on your social handles and educate everyone around you. Remember to subscribe to my YouTube channel for more informative content, released every week.
Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.
