A Non-Profit, Linux Foundation to Launch the OpenWallet Foundation

A Non-Profit, Linux Foundation to Launch the OpenWallet Foundation!

The Linux Foundation, a company focused on providing a trusted hub for developers to scale open technology projects and ecosystems, has announced its intent on September 13 to launch a new foundation to create digital wallets for companies.

Founded The Collaborative Project

According to the Company press release, the foundation is called “ the OpenWallet Foundation”. It is a collaborative effort between several companies centered on technology and public sectors, as well as stakeholders within the blockchain ecosystem.

Several leading companies from the technology, public sector, and industry vertical segments, as well as standardization organizations, have already pledged their support to the initiative.

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Some companies joined in this Foundation are CVS Health, The Open Identity Exchange, Okta, OpenID Foundation, Ping Identity, polypoly, Procivis AG, Transmute, and Trust Over IP Foundation.

Build a multi-purpose Open Source Engine

OpenWallet Foundation

The main goal of the OWF is to build a multipurpose, open-source engine to develop safe, secure, and privacy-protected wallets that anyone can use.

The Foundation will  work on building an open-source software that everyone including companies, organizations, and developers can use to create their own digital wallets. 

A wide variety of use cases will be supported by the wallets, including identity, payments, and digital keys, and it aims to achieve features similar to the best wallets currently on the market.

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“With the OpenWallet Foundation we push for a plurality of wallets based on a common core. I couldn’t be happier with the support this initiative has received already and the home it found at the Linux Foundation,” said Daniel Goldscheider, who initiated the initiative.

Jim Zemllin, Linux Foundation Executive Director added that “We are convinced that digital wallets will play a critical role for digital societies. Open software is the key to interoperability and security. We are delighted to host the OpenWallet Foundation and excited for its potential.”

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Jamilatul Mahmudah

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