FILE PHOTO: A man stands near an IBM logo at the Mobile World Congress in Barcelona, Spain, February 25, 2019. REUTERS/Sergio Perez

NEW YORK (Reuters) – International Business Machines Corp (IBM.N) and Tata Communications (TATA.NS) have joined the governing council of Hedera Hashgraph, a distributed public ledger platform that aims to be faster and runs at a larger scale than current blockchain technologies, a top official at Hedera said.

Backed by Digital Currency Group and hedge fund BlockTower Capital, Hedera raised $124 million in August last year amid a slumping cryptocurrency market.

While digital currencies took a hit last year following intense global regulatory scrutiny, blockchain developments within companies continued. Cryptocurrencies though made a huge comeback earlier this year, led by bitcoin BTC=BTSP, which has soared more than 200% so far in 2019.

Hedera’s governing council is crucial to its success, Leemon Baird, the company’s co-founder and chief scientist, told Reuters in an interview. Hedera aims to have…

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Source: http://feeds.reuters.com/~r/reuters/technologyNews/~3/2yuk5eTJjsM/ibm-indias-tata-join-u-s-tech-platforms-governing-council-idUSKCN1V214W