Linux Foundation to form the OpenWallet Foundation to push for a universal digital wallet infrastructure
The Linux Foundation has introduced the intention 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 benefits from strong support including leading companies across technology, public sector, and industry vertical segments, and standardization organizations.
The mission of the OWF is to develop a secure, multi-purpose open source engine anyone can use to build interoperable wallets. 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.
With the OpenWallet Foundation we push for a plurality of wallets based on a common core.
The OWF does not intend to publish a wallet itself, nor offer credentials or create any 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 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 available wallets.
Daniel Goldscheider, who started the initiative, said, “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.”
Linux Foundation Executive Director Jim Zemllin said, “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.”
“Universal digital wallet infrastructure will create the ability to carry tokenized identity, money, and objects from place to place in the digital world. Massive business model change is coming, and the winning digital business will be the one that earns trust to directly access the real data in our wallets to create much better digital experiences,” said David Treat, Global Metaverse Continuum Business Group & Blockchain lead, Accenture.
“We are excited to be part of the launch and development of an open-source basis for digital wallet infrastructure to help ensure consistency, interoperability, and portability with privacy, security, and inclusiveness at the core by design.”, Treat continued.
Drummond Reed, Director of Trust Services at Avast, a brand of NortonLifeLock, said, “We’re on a mission to protect digital freedom for everyone. Digital freedom starts with the services used by the individual and the ability to reclaim their personal information and reestablish trust in digital exchanges. Great end point services start with the core of 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 that we envision.”