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Leading global electronics firm Hitachi has become the latest member of the Hedera Council, bringing another industry titan into the development of Web3 technologies, according to an announcement today.
Hitachi x Hedera
As per the official release, Hitachi America is the 30th member to join Hedera’s consortium of industry pioneers, the Hedera Council.
Comprised of “up to 39” members, the diverse council is tasked with overseeing the growth and development of the Hedera Hashgraph network. Each member holds equal voting power and run Hedera network nodes.
The collaboration intends to leverage Hitachi’s numerous industry-leading solutions and expertise to develop industrial use cases and applications on the Hedera Hashgraph network.
Hitachi, alongside titans such as IBM, Ubisoft, Google, and T-Mobile, will now help steer the future of the Hedera network.
Commenting on the development, Ravigopal Vennelakanti, vice president, Big Data Solution Lab at Hitachi, said: “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.”
Vennelakanti highlights that Hedera is addressing crucial areas such as clean energy, supply chains, as well as information technology (IT), operational technology (OT) and semiconductor industries.
He adds: “Its unique DLT provides the single truth and tokenization mechanisms for distributed workflows that are needed to address these challenges.”
Hitachi, with its arsenal of solutions and products in areas such as electronics, the Internet of Things (IoT), healthcare, and energy, makes it a valuable member of the council. More specifically, Hitachi will be creating proof-of-concepts relating to sustainability and supply chains over the next year.
Hitachi dives deeper into Web3
Hitachi is no stranger to Web3. In April 2023, the venture capital arm of Hitachi, Hitachi Ventures, raised $300million for a fund focused on cutting-edge technologies, giving mention to Web3, generative artificial intelligence (AI), and cloud computing as areas of focus.
In December, it launched an IoT/blockchain-enabled “Digital Green Bond” that would boost the accuracy and transparency of data gathered by green/carbon-neutral initiatives such as CO2 emissions from energy-efficient housing. The solution plans to leverage that data and reallocate funds raised through the bond to refinance energy-saving buildings, as well as drive more capital toward more green investments.
Hitachi also partnered with enterprise-grade identity-centric blockchain firm, Concordium, to build a Web3 wallet “using biometric electronic signatures”. This proof-of-technology seeks to leverage Hitachi’s Public Biometric Infrastructure (PBI) and enhance crypto wallet user security and convenience by using biometric signatures such as fingerprints or facial scans to generate a set as seed words, as opposed to randomly generated self-managed seed phrases.
