Hitachi US bags Hedera partnership to promote Web3 initiatives

In a significant move towards advancing the practical applications of Web3 technology, Hitachi US has officially become the latest member of the Hedera Council. Meanwhile, this collaboration aims to leverage Hitachi’s industrial solutions expertise to create proof-of-concepts for end-to-end supply chain and sustainability solutions on the Hedera Distributed Ledger Technology (DLT) platform.

Notably, the partnership underscores a commitment to innovation and decentralization within the Hedera network, promising transformative outcomes for real-world industrial use cases.

Hedera Adds Hitachi US To Pioneer Web3 Solutions

The Hedera Council proudly welcomes Hitachi America, Ltd. as its newest member, signaling a strategic alliance aimed at exploring the full potential of Web3 technology. According to the recent X post of Hedera, Hitachi, a leader in electronics, healthcare, energy, and IoT solutions, brings a wealth of industrial expertise to the Council.

Notably, the collaboration, as announced in Hedera’s blog, intends to initiate proof-of-concept developments for comprehensive supply chain and sustainability solutions within the next year, demonstrating the practical applicability of distributed ledger technology (DLT).

Meanwhile, according to Ravigopal Vennelakanti, Vice President at Hitachi, the decision to join the Hedera Council is rooted in the belief in the real-world potential of DLT solutions offered by Hedera. Recognizing Hedera’s scalability, security, and commitment to sustainability, Hitachi sees opportunities to address challenges in supply chain resiliency, clean energy, IT/OT, and semiconductor industries.

Notably, Hitachi’s technological capabilities, proven in blockchain technology solutions for payment systems, supply chains, predictive maintenance, and mining, position the company as a valuable asset to the Council.

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Enthusiasm Over The Collaboration

Bill Miller, co-chair of the membership committee for the Hedera Council, expresses excitement about Hitachi’s involvement, citing the company’s history of developing forward-looking technology for various industries. Acknowledging the increasing attraction of Web3 infrastructure for large enterprises, Miller emphasizes the need for transparency and accountability in today’s complex systems.

Notably, the collaboration anticipates innovations from Hitachi that could reshape the landscape of distributed ledger technology at a massive scale. In addition, the integration of Hitachi’s technical prowess and innovative industrial use cases into the Hedera Council sets the stage for groundbreaking advancements in Web3 solutions, offering a glimpse into the transformative power of decentralized technologies in addressing real-world challenges.

Meanwhile, Hedera’s commitment to ecosystem development is evident in recent developments. For instance, as CoinGape media reported earlier, the Council has greenlit a strategic move, allocating approximately 5 billion HBAR, Hedera Hashgraph’s native cryptocurrency, to fuel network growth.

This substantial investment underscores Hedera’s dedication to advancing decentralized governance and fostering ecosystem development, reinforcing its commitment to pivotal initiatives shaping the network’s future evolution. However, despite the positive development, the HBAR price was down 2.22% to $0.07776 at the time of writing on January 15, amid a slump in the broader crypto market.

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor and crypto journalist at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.

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