Riyadh: “Zain Group” announces it is joining the highly innovative Hedera Governing Council, the largest community of innovators in the world. “Zain Group” the parent company of Zain KSA and the leading mobile telecom innovator serving 49.5 million customers in eight markets across the Middle East and Africa; is the first company from the Middle East region to participate on the Council, joining a list of prestigious global innovators including Boeing, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Swirlds, Swisscom Blockchain, Tata Communications, University College London, and Wipro.
Hedera Hashgraph provides a next-generation form of distributed consensus that is faster, fairer and more secure than traditional blockchains. It offers a new way for people or organizations who do not know or trust each other to securely collaborate and transact online without the need for a trusted intermediary. Through its participation on the Hedera Council, Zain Group will gain extensive early insights into the trends and applications in the distributed ledger technology (DLT) space and will be able to assess opportunities to develop services within its own field of operation.
As a leading regional digital lifestyle operator, Zain consistently looks to ways technology can provide new solutions to its individual and business customers while also improving its own operating efficiency. Furthermore, the Hedera Hashgraph patented technology platform addresses the universally important issue of the environment as its power usage is super-efficient, utilizing a fraction of the electricity that blockchain platforms use. This is in line with Zain Group’s membership of and commitment to the Carbon Disclosure Project, which provides a reporting framework and guidance to address climate change.
Hedera’s vision is to create a safer, fairer, more secure internet - one in which online communities can collectively create and evolve shared worlds in cyberspace, and on which developers can build trusted applications that enable people to play games and work together. End-users will also be empowered to buy and sell goods and services safely and securely, without entrusting a central organization with their data and privacy. This is achieved by overcoming four fundamental challenges to the adoption of public DLT - technology, security, stability, and governance. To deliver impactful results, the network needs to be governed by representatives from a broad range of market sectors and geographies, each with world-class expertise in their respective industries.
© Press Release 2020
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