Date August 14, 2024

Independent Chair: Brett McDowell.

Key points of the document

1. Participants et absences

  • Members present: Representatives of large companies and institutions (IBM, Boeing, Dell, Standard Bank, etc.).

  • Absent: Google, Ubisoft, Hitachi, and other notable members.

2. Main actions

Recent approvals (July 10 - August 14, 2024):

  • Approval of the minutes of previous meetings.

  • Establishment of procedural rules for working groups.

Technical decisions (TechCom):

  • Conditional validation of several technology enhancements (HIP 991, 980, 993, etc.) to optimize Hedera network features (such as APIs and data flows).

3. Topics discussed

Central Bank Digital Currency (CBDC) Project:

  • Collaboration between members for a CBDC project, reflecting cooperation within the Hedera ecosystem.

Token Economics:

  • Exploration of sustainable economic models for the network (node ​​rewards, subsidies, price elasticity).

Global Regulation of Digital Assets:

Progress in several regions clarifying their position on blockchain and programmable payments.

Business use:

  • Analysis of the obstacles to the adoption of the network by companies.

    1. Created a dashboard to monitor use case integration.

4. Technological progress

  • Reduced data storage costs.

  • Solutions to improve node account management.

5. Governance and partnerships

  • Collaboration avec la Linux Foundation Decentralized Trust (LFDT) :

    Hedera Hashgraph joins the LFDT to host its source code under open source governance.

  • Recruitment of new members :
    Discussions with companies and organizations interested in joining the council.

The meeting highlighted ongoing efforts to improve the governance, technology, and token economics of the Hedera network, while exploring strategic partnerships (such as with the Linux Foundation). Ambitious projects such as a CBDC project and initiatives to increase enterprise usage show a strong vision for growth and sustainability.


Link to the minutes https://files.hedera.com/final-approved-2024-08-14-Council-Meeting-Minutes-v.1.docx.pdf?dm=1727281880