Hitachi America joins governing council for Hedera Distributed Ledger Technology

Hedera announced that Hitachi America has joined the governing council of its Hedera DLT. Hitachi plans to use the public distributed ledger for industrial applications.

This includes supply chain and sustainability solutions, where it intends to run proof of concept within the year. Hedera’s governing council now boasts 30 enterprise members.

They include the likes of IBM, Google, abrdn, Nomura, Standard Bank, DBS Bank, FIS (Worldpay) and Boeing. The group operates the initial nodes that write to the network, preventing any forks. They also decide the direction of the network. According to the announcement, Hitachi has developed blockchain solutions for payment systems, supply chains, predictive maintenance and mining.

“Hitachi sees real-world potential in distributed ledger technology (DLT) solutions built on Hedera, given the network’s highly scalable and secure technology, and strong commitment to sustainability,” said Ravigopal Vennelakanti, VP at Hitachi.

“Hedera addresses emerging needs in supply chain resiliency, clean energy, IT/OT and the semiconductor industries, for example. Its unique DLT provides the single truth and tokenization mechanisms for distributed workflows that are needed to address these challenges.”

Regarding sustainability, Hitachi has been active on this front in Japan to support green bonds. It developed a solution that uses blockchain to track the outputs of renewable energy installations. The offering also monitors the emissions from buildings. Using the system for data, Hitachi issued a $69 million tokenized green bond in December on a permissioned blockchain.