/biz/ - Business & Finance

>>49716191
Hedera isn't owned by Swirlds anymore. They are still on the council but they are no longer a single point of failure in the system. Doing this was a part of the longer term to plan to create stability while the governing coucil was filled out.

The governing council is made up of only a specific number of companies in each industry (tech, healthcare, finance, ect.) to prevent control from being isolated in a specific industry. Also, the council members have to be spread out internally at a certain ratio so that no nation can coerce the the council to act against the interest of the network. You can imagine if all the council members were from a single country that country could force them to do something harmful to the network. If that happened with the council having many international members, the ones from the corrupt government would be out voted.

Mance actually based the governing council of of the model that Visa uses.