HBAR Foundation Officially Joins the ERC3643 Association
HBAR Foundation has officially joined the ERC3643 Association, a strategic move that demonstrates their commitment to expanding the application of Real World Assets (RWA) tokenization.
More than just a formality, this collaboration paves the way for broader collaboration with various institutions in utilizing ERC-3643, a standard that has been widely used in issuing and managing blockchain-based assets in a regulatory-compliant manner. In other words, this is like laying a strong foundation before building a magnificent house called the future digital economy.
ERC-3643 itself is not a new player. This standard has been used in various cases, including the tokenization of green bonds by major banks such as Citi and ABN AMRO.
With its permission-based characteristics, ERC-3643 allows the issuance of digital assets that are more controllable and in accordance with the law. So if you imagine digital assets like building access cards, ERC-3643 ensures that only people with permission can enter.
Bridging Enterprises to Web3 With a Proven Standard
Joining the HBAR Foundation is not just a matter of branding. Through this collaboration, they will encourage more institutions to look at and use ERC-3643, especially on the Hedera network.
On the other hand, the position of the HBAR Foundation, which is directly involved in the Hedera Governing Council, gives them the space to align this standard with enterprise needs without having to sacrifice the technological efficiency that is already Hedera’s hallmark.
If usually the adoption of new technology takes a long time because large companies tend to be careful, the presence of a proven standard such as ERC-3643 can be a bridge. Moreover, with the HBAR Foundation helping to encourage the use of this standardization, the onboarding process can be faster and with minimal drama.
“We’re excited for The HBAR Foundation to join the ERC3643 Association, enabling us in our mission to accelerate institutional adoption of the Hedera network and onchain finance as a whole,” said Sabrina Tachdjian, Head of Fintech & Payments at The HBAR Foundation.
Hedera Expands With Dell’s AI Push and Hitachi’s Entry
In February, Hedera also had two other big news. First, their collaboration with Dell Technologies. Dell will use Hedera to record real-time data from its edge infrastructure. This step is to ensure that the recorded data can be trusted and can be audited at any time.
Interestingly, this project also involves testing AI services integrated with the Hedera Consensus Service. So besides the blockchain, there is a touch of AI that makes this project even more relevant.
Furthermore, Hitachi, a giant Japanese company, has also officially joined the Hedera Governing Council as the 32nd member. With Hitachi’s entry, Hedera strengthens its foothold in the Asian market.
And more importantly, a name as big as Hitachi adds value in terms of credibility. When a company of this class chooses to enter a network, it is a kind of signal to the market that Hedera is not a playful project.
HBAR Faces Dip, But Bullish Outlook Remains From Analyst
On the other hand, CNF had reported a bullish prediction from a crypto analyst for the HBAR token. Based on technical analysis and the breakout of important resistance levels, the analyst sees a potential rally of more than 140% for this token.
Meanwhile, as of press time, HBAR is swapped hands at about $0.1601, down 7.49% over the last 24 hours and 16.28% over the last 7 days.