Hedera Hashgraph, an enterprise-grade public ledger designed to have highly diversified governance and the most distributed consensus at scale, today announced the appointment of Ari Paul, CIO and managing partner of BlockTower Capital, as an advisor. Before co-founding BlockTower Capital, Mr. Paul was a portfolio manager and risk specialist for the University of Chicago’s $8 billion endowment portfolio.
“The Hedera Hashgraph platform is pushing the performance and security boundaries of distributed ledger technology, marking this an exciting moment to join as an advisor,” Mr. Paul said. “Dr. Leemon Baird and Mance Harmon have built a remarkable team and developed a technology which represents a fundamental paradigm shift for the DLT space. I look forward to working with Hedera through the next phase of their development.”
Hedera Hashgraph is a public distributed ledger aiming to directly resolve four fundamental challenges to mainstream market adoption of public ledger technology — performance, security, stability, and governance. Dr. Baird, Hedera Hashgraph cofounder and chief scientist, and Mance Harmon, cofounder and CEO of Hedera, patented the groundbreaking hashgraph technology after working together in the United States Air Force Academy and as partners in multiple startups successfully sold to large enterprises and private equity firms.
In 2018, Hedera raised $124 million, all held in fiat, to further the development and launch of the Hedera platform. The Hedera public ledger enables organizations to build enterprise-grade applications addressing issues such as latency on cryptocurrency transactions, confidence and efficiency in the verification of smart contracts, and secure and transparent storage of files.
Mance Harmon, CEO of Hedera, said, “We are delighted to welcome Ari Paul, a luminary investor and thought leader, to our advisory board,” Mr. Harmon said. “His knowledge and expertise in the field of distributed ledger technologies, and his advocacy for the space, will be invaluable to Hedera as we continue the important work towards creating the industry’s first enterprise-grade distributed ledger technology.”