World's Largest Aircraft Manufacturer Joins Hedera Hashgraph Council

Boeing will run a node on Hedera Hashgraph's blockchain-like enterprise DLT platform after becoming the latest member of its governing council.

AccessTimeIconAug 29, 2019 at 10:00 p.m. UTC
Updated Sep 13, 2021 at 11:23 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Aerospace giant Boeing has joined the governing council for Hedera Hashgraph, a blockchain-like network for enterprises, CoinDesk has learned.

The Chicago-based aircraft and satellite manufacturer became the 10th member of Hedera's governing council Thursday, joining the likes of financial services provider FIS Global, Tata Communications, Nomura Holdings and IBM.

Each member of the council runs its own node operating the hashgraph, and when the network's open access launch takes place next month, these companies will also be able to use the Hedera Consensus Service, allowing members to plug private networks into the public network to take advantage of its transaction ordering system.

Hedera also claims that its distributed ledger technology can facilitate micropayments and distributed file storage and support smart contracts.

Hedera announced earlier on Thursday that it would begin distributing its HBAR tokens, a process that is expected to take 15 years. The company raised $124 million through three rounds of funding using a simple agreement for future tokens (SAFT) framework. Roughly 1,000 participants in the SAFT rounds will receive the first distribution of HBAR tokens.

Boeing, currently the world's largest commercial aircraft manufacturer, as well as a major U.S. and international defense contractor, has made limited moves in the blockchain space to date. The company has previously filed for a patent outlining a blockchain system that could aid in-flight GPS receivers, as well as announced a joint project to improve unmanned aircraft.

Airbus, Boeing's top rival, had previously joined the Hyperledger consortium, which IBM has also contributed to.

Boeing did not immediately respond to a request for comment.

Boeing image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.