What is Hedera backed by?

I'm curious, could you please elaborate on the backing behind Hedera? I've heard it's a distributed ledger technology platform, but I'm not quite clear about what exactly backs its reliability and credibility. Is it the power of its innovative technology? Or perhaps it's supported by a consortium of powerful organizations? I'm also interested to know if Hedera has any form of regulatory approval or endorsement from any governing bodies. Could you shed some light on these matters for me?