No, Council members are not required to build applications on the Hedera network. Companies are generally seeking to join the Council because it provides them with a leading role in the management and development of what could become a transformative technology. Council membership will allow them to have a front-row seat in understanding advanced distributed ledger technology and use cases. There is no requirement for Council members to use Hedera network services. We would note, though, that all Council members to-date have expressed an interest in exploring the development of distributed applications on the Hedera network.
Articles in this section
- Is there a limit to the number of companies from any one industry that can be on the Council at any given time?
- What Council decisions require unanimous votes rather than 2/3rds?
- What are the requirements from the Council members, i.e. how much of an obligation do they sign on for?
- How frequently will the Council members meet?
- Who owns Hedera Hashgraph, LLC? Who owns the coins in the treasury?
- Since some of the Council members are large global companies, did they join at the parent level or through a subsidiary?
- What are the current Hedera governance rules? Will Hedera release the full legal agreements relating to each Council member?
- What are the responsibilities of Council members?
- What does membership in Hedera represent? E.g. coins, equity?
- Did Council members buy their membership in Hedera? If so, at what valuation?