The Linux Foundation wants to tackle digital wallets next

Date:
Wed, 14 Sep 2022 18:22:17 +0000

Description:
Linuxs newly-announced OpenWallet Foundation hopes to provide interoperable OSS for the digital wallet.

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The Linux Foundation has announced plans to form a new entity, the OpenWallet Foundation (OWF), which will provide the basis for companies to create
digital wallets on an open source platform.

The mission of the OWF is to develop a secure, multi-purpose open source engine anyone can use to build interoperable wallets," the organization explained.

The OWF aims to set best practices for digital wallet technology through collaboration on open source code for use as a starting point for anyone who strives to build interoperable, secure, and privacy-protecting wallets. Linux OpenWallet Foundation

The idea behind the OWF is not to create a wallet to rival the likes of Apple Wallet and Google Wallet, but rather to create a multi-purpose open source engine anyone can use to build interoperable wallets, which the foundation sees being utilized for things like secure payments and digital keys.

Companies will then be able to leverage the work of the OWF and develop their own digital wallets, which the Linux body says will enhance interoperability, security, and privacy . Read more

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Linux Foundation Executive Director Jim Zemllin said in a statement that digital wallets will play a critical role for digital societies, thus the
work of the OWF could prove valuable to ensuring a more level playing field
in years to come.

Moving forward, Global Metaverse Continuum Business Group & Blockchain Lead
at Accenture, David Treat, believes that universal digital wallet infrastructure will create the ability to carry tokenized identity, money,
and objects from place to place in the digital world.

Meanwhile, Pramod Varma, Chief Architect at Aadhaar & India Stack, sees verifiable credentials becoming an essential digital empowerment tool for billions of people and small entities, which emphasizes the standardization work that the OWF hopes to carry out.

The bodys goal is to launch the new entity later in 2022, and interest to collaborate can be expressed on the OpenWallet Foundation website . These are the best laptops for programming and the best Linux laptops



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Link to news story: https://www.techradar.com/news/the-linux-foundation-wants-to-tackle-digital-wa llets-next/


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