Yes, as of April 1st, 2020, Hedera and Swirlds have signed a non-binding term sheet laying out what an exclusive channel partner agreement for CBDC initiatives would look like. This is intended to resolve any potential future channel conflict for central bank digital currency initiatives between Swirlds and Hedera over the use of the hashgraph consensus algorithm.
According to the framework, Swirlds would appoint Hedera as the exclusive channel partner of Swirlds with respect to the licensing of the Swirlds IP (“Hashgraph”) to third parties in the implementation of central bank digital currencies. “CBDC Contracts” are contracts entered into between Swirlds and third parties for the licensing of Hashgraph in the implementation of central bank digital currencies. Hedera would agree to market and promote Hashgraph and actively engage in marketing and business development to pursue these opportunities. Hedera would provide to Swirlds quarterly reports setting forth in detail its marketing and business development activities for the applicable reporting period.
Expansion of Channel Partnership Relationship
Under the current term sheet, both parties would agree in good faith to explore expanding the scope of the relationship between the parties beyond a simple channel partnership to a more comprehensive reseller/sublicensee relationship.