Hedera Governing Council voted to buy intellectual property rights for the hashgraph consensus algorithms from Swirlds, Inc., founder member of Hedera Governing Council and original creator. Additionally, the Governing Council members made a promise to open source code under Apache 2.0 license by 2022. To allow a wider community to participate, the Governing council members voted for this action. Hedera also believes that technical controls have been put in place to make sure the Hedera network cannot be split. Therefore, the hashgraph Patents will no longer be needed to be defensively used to protect Hedera ecosystem members. It will be possible to accelerate the creation of the consensus layer through open-sourcing. This will also allow more contributors. Council members confirmed that the network codes will no longer be in beta following the next mainnet update.

The Governing Committee members include a wide range of companies and organizations. Together they promote and allocate the Hedera treasury and the development of Hedera network technology. Recent announcements of an allocation of 10.7 million hbars (approximately 20%) to the Hedera ecosystem’s expansion have demonstrated this. The original five Council members have been replaced by 25 members. These diverse and distributed Council members are involved in the management of the network nodes, the governance of the network, as well as recruiting new members.

Hedera was always envisioned as a council-member-driven organization that allows for the best decentralized governance possible and a broad-reaching public network.
Scott Thiel is a Partner at DLA Piper and one of the founding members of the Governing Council.

We believe that now is the right time to make the Hedera network as widely adopted and available to the public, in order to take advantage of growing DLT demand.
Council members also took decisions to enable more startups and businesses to participate in the market. Hedera Hashgraph, LLC, will be moving its development and management team and other related staff to Swirlds. Mance Harmon (CEO) of Hedera Hashgraph and Dr. Leemon Baird (Chief Scientist at Hedera Hashgraph), will be stepping down from their positions. They will remain as peers members of the Governing Council via Swirlds and continue to take part in the Hedera ecosystem. In addition, Dr. Leemon Baird will continue to serve as Co-Chair of the Hedera Council’s Technical Steering & Product Committee, which is responsible for technical and roadmap decisions affecting the Hedera network, and Natalie Furman, who is resigning from the position of General Counsel at Hedera Hashgraph to lead legal efforts at Swirlds, will continue to participate as one of the member representatives in the Council’s Legal & Regulatory Committee. Tom Sylvester will be promoted to Associate General Counsel and General Counsel at Hedera Hashgraph.

“From my first day, I was driven to create ‘Shared Universes’ that allow anyone to gather, work together, do commerce, and own their online footprint.
said Dr. Leemon Baird, CTO of Swirlds and Co-Chair of the Hedera Council’s Technical Steering & Product Committee.

The foundation for that vision has been laid with V1 of network code completed, open-sourcing the hashgraph algorithm and an engaged Council taking key decisions regarding the future direction of the network. Next, the community must develop services and products that go beyond Layer 1, to enable other Layer 1 protocols to generate value. “Swirlds” is the ideal place to do this, as it fosters an ecosystem that allows everyone to be equal.
Knowledge-intensive and technologically-intensive industries face high levels of uncertainty. They can only sustain sustainable growth by encouraging open models for highly interconnected, collaborative, multidisciplinary and multidirectional innovations. It is generally challenging to construct innovation ecosystems because of their open, non-linear dynamics, high responsiveness to feedback loops and constant structural transformations.
Professor Paolo Tasca is the Executive Director of University College London’s Centre for Blockchain Technologies. He was the first academic partner in joining the Hedera Governing Council.

I believe in non-hierarchical governance models that allow self-adaptability and rapid change through multilateral cooperation among innovators, developers industry, academia, and industry. The Hedera team deserves my praise for the incredible work they did to expand the Hedera ecosystem by open-sourcing the consensus layer, and further decentralizing governance.
Swirlds has agreed to provide essential services for Hedera Governing Council in the foreseeable future. The Council focuses on industry standards and core network governance.

“V1 is a significant milestone for the Council, community and provides a strong network that anyone can use to create and deploy decentralized apps anywhere around the globe.”
said Saiprasad Raut, Chief Technology Advisor, Crypto & Emerging Business for Worldpay from FIS, and Co-Chair of the Hedera Council’s Technical Steering and Product Committee.

And purchasing the open-source hashgraph algorithm will make sure that the network is continuously developed collaboratively. It can be freely shared and published. Swirlds is a member of Council and works together to create the ideal structure for exponential growth of world’s leading public ledger infrastructure.
“The towering importance of trust & transparency has become more critical than ever as digital technologies prodigiously tether us all with each other & our items,”
said Pradeep Iyer, Ph.D, Research Fellow, Materials Group for Avery Dennison (NYSE:).

“Recent pivotal organizational changes within Hedera hold the promise to seamlessly scale & secure a public DLT platform, catalyzing ubiquitous adoption. I see exciting opportunities to provide trusted tethers between physical items & their digital identities, for example, to accurately measure & mitigate environmental impact and help achieve ESG goals.”
After serving as an ex-officio member of this position since February 2019, the Council is pleased to announce that Brett McDowell has been unanimously elected by its Board of Directors for a 2-year term, which will take effect January 1, 2022.

“It’s an honor being entrusted this responsibility.”
McDowell.

“The Governing Board has achieved significant success over the past three-years, increasing from initial five members to now twenty-five across different industries and geographies. It is exciting to see the Council make changes in the new year. This will allow the Hedera network unprecedented growth for 2022.

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