Many digital currencies are often driven to new highs by different fundamentals, and Hedera (HBAR) is on the frontlines today as it is under the radar of the U.S. government. According to a press release shared by the State Department, Hedera has joined the 150 companies that have shared a commitment to advance democracy.
1/3 Today at @POTUS’ #SummitForDemocracy, #Hedera has made a commitment to convene a democracy roundtable on how #blockchain technologies can and are supporting human rights, #transparency, and #sustainability through #DLT-enabled applications.https://t.co/pyrGjXt0if— Hedera (@hedera) March 29, 2023
Specifically, Hedera was recognized for its commitment to use blockchain technology to advance human rights, transparency and sustainability by convening a roundtable featuring thought leaders.
According to the update, Hedera will coordinate the role of blockchain by inviting companies, trade associations, advocacy groups, academics and government officials, publicly share a summary of the discussion, and make recommendations for next steps.
Hedera is branded as one of the most funded, sustainable, enterprise-grade public networks for the decentralized economy that allows individuals and businesses to create powerful decentralized applications. The protocol counts many of the top tech firms as some of the members of its governance council.
Per its commitment to the U.S. government, Hedera will build on the current applications of blockchain, which extend to fighting misinformation, reducing data manipulation and tracking financial flows.
Hedera price on steady run
The update shared by the Hedera protocol has positioned its native digital currency, HBAR token, on an ambitious and bullish path. At the time of writing and per data from CoinMarketCap, HBAR is changing hands at $0.06516, up by 6.89% over the past 24 hours.
The current growth outlook of the protocol has pushed it to pare off the losses it accrued in the trailing seven-day period.
While the commitment to the U.S. State Department may not necessarily drive the growth of Hedera directly, it will definitely play a role in emphasizing the importance of Hedera as an important tech outfit to help drive social change.