Chainlink Becomes First Blockchain Company to Join Hedera Governing Council

By citiesabc news - May 21, 2021

Chainlink Furthers Enterprise Focus, Joins Hedera Governing Council. Companies To Explore Enterprise Use Cases, Including Bridging Traditional Finance to DeFi.

Chainlink, the industry-leading oracle solution, has joined the Hedera Governing Council, which oversees distributed governance of the Hedera network. Chainlink and Hedera will implement a series of initiatives aimed at helping traditional, centralized financial services and other organizations harness the distributed computational trust, visibility, and control that decentralized applications offer.

Chainlink, which serves as a secure blockchain middleware for powering a wide variety of enterprise users, will be the preferred oracle partner for the Hedera network and will collaborate to provide Chainlink integration with the Hedera Token Service (HTS).

David Post, Managing Director of Business Development and Strategy for Chainlink Labs, said, “As enterprise adoption of distributed ledger technology continues to advance, decentralized oracle solutions become critical for every vertical – from DeFi and insurance, to gaming and NFTs, and more. We’re continuing to expand our suite of smart contract-related services to power a vast array of secure, feature-rich applications, so it is a very natural progression for us to join the Hedera Governing Council and work with the leading enterprise-grade public network and their other Council members to make Chainlink the default oracle provider for enterprise applications.

Mance Harmon, CEO and Co-founder of Hedera Hashgraph, said, “As the most widely adopted decentralized oracle solution in the market today, Chainlink is already used to secure billions of dollars in assets for applications around the globe. Their potential on the Hedera network, which is already the most used enterprise-grade public network, is limitless. We are excited to be expanding our relationship with Chainlink, which will be the first Web 3.0 company on the Hedera Governing Council, to enable the most robust applications of the decentralized future.”

For more information, visit https://hedera.com/council.

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