Repsol, a prominent global energy company, has joined the Hedera Council, a move designed to enhance its capabilities in decentralized digital identity. This strategic decision aligns with a broader trend among enterprises seeking a more secure digital trust infrastructure, particularly as Repsol strives to modernize identity verification across its extensive global operations.
Operating in over 90 countries and servicing more than 24 million customers, Repsol recognizes the critical need for robust identity verification mechanisms. These are essential not only for procurement and compliance but also for engaging with suppliers effectively. Its membership in Hedera underscores its commitment to exploring scalable, enterprise-grade digital identity solutions. The Hedera platform’s distributed ledger technology supports secure, auditable data exchanges, which is integral to Repsol’s ongoing digital transformation endeavors.
Repsol’s entry into the Hedera Council brings three primary priorities to the forefront of its digital identity initiatives. Firstly, the company aims to develop interoperable identity frameworks capable of functioning at enterprise scale. Secondly, it seeks to automate wallet-to-wallet processes, including Know Your Customer (KYC) and Know Your Business (KYB) evaluations. Thirdly, Repsol intends to enhance trust through tamper-proof credentials, fostering greater verifiability in its operations.
These initiatives align closely with impending requirements from the European Digital Identity Wallet, emphasizing compliance with regulations such as eIDAS2 and GDPR. This focus is expected to reduce administrative friction in Repsol’s multinational operations while boosting transparency in procurement, supplier onboarding, and sustainability reporting.
The company’s strategy targets real-time and auditable information management, which may streamline procurement workflows and enhance the reliability of supplier data verification, effectively reducing fraud risks. As a participant in the Hedera Council, Repsol will operate a network node with equal voting rights among council members, which ensures decentralized governance over the software and services provided by Hedera. The council currently comprises 39 rotating global organizations.
Repsol is also exploring additional use cases for decentralized digital identity within the Hedera ecosystem, such as issuing sustainable origin certificates and verifying vendor data. The potential integration of digital signature solutions based on decentralized identity is under consideration, which could further strengthen trust in global supply chains.
Tom Sylvester, President of the Hedera Council, described Repsol’s addition as a significant milestone, highlighting that the company’s multinational operations require a scalable solution for verifiable trust. This illustrates the growing need for digital identity frameworks that are governed and secure, especially in increasingly complex supply chains.
Despite recent market pressures affecting Hedera’s native token, HBAR, which has decreased by approximately 1.70% in the past 24 hours and over 25% in the past month, enterprise adoption of the Hedera platform continues apace. Repsol’s involvement is expected to strengthen the utility of Hedera’s network in the long term, reinforcing a path toward growth despite short-term volatility.
The Hedera Council represents a transparent governance model that is becoming more diversified with Repsol’s inclusion. This development is likely to accelerate the adoption of blockchain solutions across various industries on a global scale.
