- Portfolios developed under the OWF banner are supposed to be flexible.
- The organization supports many open source projects, including Linux, Kubernetes, etc.
A new collaborative effort to produce open source software to facilitate interoperability of a wide variety of wallet use cases has been launched by Linux FoundationIt will be called the OpenWallet Foundation (OWF).
In a press release on Tuesday, the Linux Foundation announced that several tech companies, including AccentureAnd the Avastthe Open Identity Exchange, as well as standardization organizations and representatives from the public sector, have already expressed their support for the initiative.
Great development opportunities
Rather than creating a single digital wallet, the team will focus on creating an open source software engine that can be used by groups and other companies. Wallets developed under the OWF banner are supposed to be flexible enough to be used for things like verifying identities, making and receiving payments, and tracking digital keys.
Cryptocurrency wallets, which are more important in the modern digital economy, are another example of their potential use. OWF’s goal is to enable a variety of applications to store and retrieve credentials and digital assets with little friction for end users. When asked about possible implementations of the open source OWF engine, Dan Whiting, Director of Media Relations and Communications at The Linux Foundation stated.
The Linux Foundation was founded in 2000, and since then it has become the most important organization for developing open source software, hardware, standards, and data. The foundation supports many open source projects, including Linux, Kubernetes, Node.js, and Hyperledger, an enterprise-focused blockchain project.
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