On Tuesday, the LinuxFoundation launched the OpenWalletFoundation to support the development of open-source crypto wallets.
On Tuesday, the non-profit technology consortium, the Linux Foundation, announced the launch of the Openwallet Foundation in order to bolster the development of open-source crypto wallets. OWF’s goal is to increase “interoperability for a wide range of wallet use cases” and to develop a “secure, multi-purpose open source engine” that anyone can use to build a wallet.The Linux Foundation has supported open-source software since the foundation’s inception 22 years ago.
“We are convinced that digital wallets will play a critical role for digital societies. Open software is the key to interoperability and security,” Jim Zemllin, the LF executive director, said in a statement. OWF to Host a Keynote Presentation at the Open-Source Summit Europe, Foundation Is in the Midst of Constructing Group’s Governance and Structurewill host a keynote presentation at the Open Source Summit Europe. The newly formed group has no intentions of publishing a wallet or creating new standards. “The community will focus on building an open source software engine that other organizations and companies can leverage to develop their own digital wallets,” the LF announcement details.
David Treat, the Global Metaverse Continuum Business Group and Blockchain lead at Accenture said that a massive change is coming to the traditional business model and digital businesses will earn trust. “Universal digital wallet infrastructure will create the ability to carry tokenized identity, money, and objects from place to place in the digital world,” Treat said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Linux Foundation Project Will Tackle Digital Wallet InteroperabilityThe linuxfoundation, the nonprofit behind the popular open-source operating system, plans to launch the OpenWallet Foundation to tackle digital wallet interoperability. BrandyBetz reports.
Read more »
Abra plans to form state regulated bank for digital assetsThe move is an effort to position Abra as the “default Web3 wallet and crypto bank.”
Read more »
Starbucks announces new NFT experience for coffee membersDid anyone order a venti NFT? Starbucks announced its plans to offer digital collectible stamps in the form of NFTs, which will be minted on Polygon.
Read more »
Bitcoin outperforms ether, Starbucks to launch NFTs, and SEC ups crypto scrutiny: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Rahsan Boykin of Hashflow discusses the SEC's scrutiny of crypto and what how initiatives from the agency could change crypto investor sentiment.
Read more »