COFRA is now a part of the Hedera Governing Council

Hedera has announced that COFRA Holding is now officially a part of its ecosystem through the Governing Council. COFRA, through this partnership, aims to accelerate DLT adoption and further the mission of becoming a leader in sustainability.

Hedera powers the next generation Web3 through a leaderless PoS network, wherein PoS is Proof of Stake consensus. The open-source platform majorly takes pride in having a robust ecosystem with multiple organizations as its partner.

COFRA is a privately held group of companies that manages more than a single business at a time. The Switzerland-based venture employs people from Europe, the US, and Asia, with every business supporting the spirit of engaged entrepreneurship.

COFRA will ideally work on developing blockchain-based solutions on Hedera with the initial focus on supply chain transparency and tokenization. COFRA becoming a member of the Hedera Governing Council is a move that has been appreciated across the community, especially by the customers who have been constantly amazed by COFRA.

Simon Olson from Hedera believes that collaborating is the only way forward when it comes to dealing with problems that are intractable. Instead of working in isolation, ventures may choose to invest collective efforts, thereby opening up the doors to a global scale. For instance, stakeholders from across the world needed to sit at a single table to talk about climate change.

What makes COFRA a perfect fit for the ecosystem of its Governing Council is the proven track record of constructing coalitions with the aim of tackling several issues one at a time.

Simon, the Co-Chair of the Membership Committee of Hedera, has expressed their belief saying that COFRA will surely contribute enormously to Hedera. True, Hedera is an ideal partner not just for COFRA but also for others looking to scale their blockchain-based solutions without having to compromise with efficiency in energy.

As for COFRA, the 182-year family enterprise gains access to innovative solutions that allow the company to venture into a new direction worldwide. COFRA currently houses over 60,000 employees with operations in sectors including, but not limited to, sustainable food, real estate investment, fashion retail, asset management, and clean energy.

Hedera stands out in the market with its hashgraph proof of stake consensus algorithm, which is energy efficient, giving it the tag of an ideal partner for a firm like COFRA.

COFRA joining the Governing Council of Hedera brings a certain aspect of optimism to the community. It signals the growth for a brighter future, also for HBAR. The native token is estimated by Hedera Hashgraph forecast to touch the maximum value of $0.28 by the end of 2023. However, it might also stick to the lowest ground of $0.051.

Hedera’s network is governed by a diverse council of organizations from different parts of the world. Partners include IBM, Dell, DBS Bank, Shinhan Bank, and University College London, among many others.