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Linux Foundation to Form OpenWallet Foundation to Promote Universal Digital Wallet Infrastructure

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The Linux Foundation has announced plans to form the OpenWallet Foundation (OWF), a new collaborative effort to develop open source software to support interoperability for a wide range of wallet use cases.

The initiative already has strong support, including from leading companies in the technology, public sector and industry verticals, as well as standards organizations.

OWF’s mission is to develop a secure and versatile open source engine that anyone can use to build interoperable wallets. The OWF aims to establish best practices for digital wallet technology through collaboration on open-source code to use as a starting point for anyone striving to create interoperable, secure, and privacy-protecting wallets.

With the OpenWallet Foundation, we are pushing for a plurality of wallets based on a common core.

The OWF does not intend to publish a wallet itself, or offer credentials or create new standards. The community will focus on building an open-source software engine that other organizations and businesses can leverage to develop their own digital wallets.

The wallets will support a wide variety of use cases, from identity to payments to digital keys, and aim to achieve feature parity with the best wallets available.

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

Executive Director of the Linux Foundation Jim Zemlin said: “We are convinced that digital wallets will play a vital role for digital companies. Open source software is the key to interoperability and security. We are delighted to welcome the OpenWallet Foundation and excited about its potential.

“The Universal Digital Wallet Infrastructure will create the ability to transport tokenized identity, money and objects from place to place in the digital world. A massive business model shift is coming, and the winning digital business will be the one that gains the trust to directly access the real data in our wallets to create much better digital experiences,” said David DealGlobal Metaverse Continuum Business Group & Head of Blockchain, Accenture.

“We are excited to be part of the launch and development of an open source foundation for digital wallet infrastructure to help ensure consistency, interoperability and portability with privacy, security and inclusivity. at the heart of the design,” continued Treat.

Reed Drummond, director of trust services at Avast, a brand of NortonLifeLock, said, “We are on a mission to protect digital freedom for all. Digital freedom begins with the services used by the individual and the possibility of recovering their personal information and restoring trust in digital exchanges. Great endpoint services start with the core digital identity wallet technology. We are proud to be a founding supporter of the OpenWallet Foundation because collaboration, interoperability, and open ecosystems are essential to the trusted digital future we envision.