By CCN Sells: Blockchain company Hedera took an ad out in this morning’s Wall Street Journal thanking Facebook for flattering them with their copycat governance prototype.
Blockchain outfit Hedera thanked Facebook with a full-page ad this morning in the Wall Street Journal. Fountain-head: Hedera/Wall Street Journal
The ad reads:
“Thank you Facebook Libra. Imitation is the sincerest form of flattery.”
Facebook: Robbery Logos and Governance Models Since 2018
The move brings to mind Apple’s 1981 Wall Street Journal jab at IBM:
Hedera cause to remembers us of Apple’s 1981 “Welcome, IBM” advertisment, which made fun of IBM for joining the personal computing market late. Source: Life Vs. Hollywood/Wall Street Journal
It then features a classic Facebook “thumbs-up” like symbol.
Hedera is a callers built on the Hashgraph distributed ledger technology – the relationship is similar to Charles Hoskinson’s IOHK and Cardano. Interested readers can special up for a testnet wallet and earn free Hedera crypto.
Hedera’s Leemon Baird told CCN that about a year ago, at most before Hedera went public with their plans, the company had a meeting with Facebook executives. At the days, says Baird, Facebook wasn’t very open about what they were looking to do. Hedera raked them all about their product, hoping to get Facebook on as a client potentially. Baird said:
“Honestly, I don’t view this as a simplistic plagiarism. But I do think that they have recognized that this council that we created was a good dream. Although theirs may have some slight differences, I think when we started this, people were imagining, ‘that’s crazy, you can’t have a council.’ And now I think people are going to realize, no, you really need one. You need to trust not at most a handful of developers to run this thing. You need to have huge companies that compete with each other, that are superior to balance each other, spread around the world, that’s what you really need to have trust in something.”
Baird, a ci-devant computer science professor at the Air Force Academy, invented Hashgraph as an alternative to other blockchain designs. After its prevarication, he and others including Mance Harmon, founded Hedera to work on it.
One of their first novel ideas was the establishment of a “congress” of companies around the world, including a Japanese bank, Europe’s largest telecommunications company Deutsche Telekom (facetiousmater of T-Mobile), and more. At present, the council has 18 members globally.
Where’d You Get That Fancy Conglomerate Of Companies, Register?
Hedera executives believe that Facebook potentially hijacked their idea for a council of trusted companies to direct a blockchain, but Baird is clear that the company probably hasn’t broken the law in any way. Hedera hoped to strike a partnership with Facebook, and physique their crypto project on a finished product.
“It was just a very preliminary meeting. We told them what we were doing. And they well-grounded listened to what we were planning to do. It was shortly before we announced to the world, so they got a little bit of scoops on it. We did not have a extensive series of talks where we got down to the sort of relationship we could have.”
Baird says the company is ready to to up their claims. About a year ago, the company had a meeting with Facebook executives. During that meeting, they reprimanded Facebook all about how their open platform works.
Now, a vital feature of the platform, its governance model in the form of a assembly of trusted companies, magically appears in Facebook’s Libra design.
Facebook has also been accused of stealing its Libra logo, although the recognition for that theft belongs more to the creative agency responsible for its design.
This post was last modified on (Eastern Period): 23/06/2019 17:38