If you're stopping by for the first time and you haven't already and you want to, please subscribe.

Linux Foundation launches digital wallet development support foundation

 

It appears that the institution does not intend to create its own digital wallet. Rather, its goal is to make it easier for companies to create their own portfolios


The Linux Foundation, a global non-profit organization that supports innovation within the blockchain ecosystem through access to open source technology, has announced plans to launch the OpenWallet Foundation or OWF.


OWF is a collaborative effort between companies in technology and the public sector, as well as those involved in the blockchain ecosystem, to develop open source software to support the interoperability of digital wallets, i.e. software designed to send, receive, store and monitor digital assets.


According to a press release, OWF's primary goal is to build a versatile open source engine that anyone with a technical understanding can use to build wallets that allow safe, secure, and secure interoperability and ensure privacy. The foundation also said that it seeks to create an environment for better practices for digital wallet technology.


Rather than creating a digital wallet itself, the organization will focus on building an open-source software engine that organizations, companies, and other developers can use to create their own versatile digital wallets. Jim Zemlin, CEO of the Linux Foundation, shared the foundation's vision:

“We are convinced that digital wallets will play a crucial role in digital societies. Open software is the key to interoperability and security. We are thrilled to launch the OpenWallet Foundation and are excited to see its potential.”

David Treat from Accenture, a member of the foundation, said: 

“The global digital wallet infrastructure will create the ability to carry token identity, money and things from one place to another in the digital world. A massive change in the business model is coming, and the winning digital businesses will be the ones who gain the confidence to directly access the real data in our wallets to create much better digital experiences.”

 Joining the Linux Foundation in this endeavor are other well-known companies such as CVS Health, Open Identity Exchange, Okta, OpenID Foundation, Ping Identity, Polypoly, Procivis AG, Transmute and Trust Over IP Foundation.

Comments

Post a Comment


To stay up-to-date with all of our latest content, please consider following us on social media.




Popular posts from this blog

Create a Payza account Free in 2 minutes!

Image
Payza is a free online payment service, like Paypal, Neteller and Payoneer, allowing you to send, transfer and receive money online very easily and securely. And you can also transfer money to your bank account or add it to your Payza account. How to open / create a Payza account? Registration is quick and easy, just click here www.payza.org then: - Click on "Sign up" and choose your type of account you want "Personal Account or Business". - Fill in your personal data correctly: Your no name and first name, email address and password "Enter at least 8 characters, include capital letters, lowercase letters, numbers and symbols". After your registration do not forget to check your mailbox to confirm your registration. Wait! Things are not done yet, let's talk about services, which Payza offers its members: 1. Opening an account for free and without annual fees. 2. Send money fast and safely. 3. Receive your payments quickly and sec
Read more

The latest information about the new Facebook Cryptocurrency

Image
Some time ago, we became aware that Facebook was planning to launch its new currency, but now we have more and more assurances about it. The new currency will enable users to make purchases through various Facebook platforms such as Messenger, WattsApp and Instagram, whether the user has a bank account or not. BBC sources indicate that Mark Zuckerberg has engaged in a lengthy dialogue with the Bank of England Governor on the subject.
Read more

Binance and its CEO are under surveillance, according to the “Wall Street Journal”

Image
  Binance, the leading digital currency trading platform, faces legal and operational challenges that may determine its future course. According to information obtained by the Wall Street Journal from undisclosed sources, Changpeng Zhao, known as “CZ,” may be subject to criminal charges by the American authorities after a period of investigation. Despite the obstacles Binance has faced recently, such as the departure of some senior staff and extensive layoffs, there are those who remain optimistic about the sector’s ability to recover, such as Matt Hogan of Bitwise, who sees the field as strong and resilient. Despite these challenges, Binance co-founder Yi He confirms that the company will overcome these difficulties. Confidence within the company is wavering, especially with Binance's trading volume falling to half of global trading from 70% at the beginning of the year. Previous reports indicated that US authorities are considering accusing Binance of illegal practices, which thr
Read more

Digital encapsulated tokens issued by FTX or Alameda are no longer redeemable!

Image
  Following FTX's Chapter 11 bankruptcy filing, the encapsulated cryptocurrency issued by crypto exchange FTX or its sister trading partner Alameda Research has now been hit by a significant drop in prices. According to Coingecko data, the bitcoin encapsulated on Sollet has fallen by more than 60% in the past 24 hours, significantly below the value of the original bitcoin. In contrast, the price of Ethereum encapsulated on Sollet also fell but by only 8% over the same 24-hour time frame. It should be noted that for both encapsulated digital tokens, soETH and soBTC, Coingecko displays a warning notice on its website that: SOBTC digital tokens are encapsulated with bitcoin tokens issued by FTX or ALAMEDA. These two entities have filed for Chapter 11 bankruptcy, so the original cryptocurrency is no longer recoverable. Cryptocurrencies, such as Bitcoin or Ethereum, on Solana make these assets available for use on the Solana blockchain so that users can hold or trade them in place of ac
Read more

The Middle East and North Africa is the most growing region in the crypto market according to the latest research

Image
  The cryptocurrency sector continues to grow continuously across the globe, with the Middle East and North Africa (MENA) region has emerged over the past year, as it recorded the highest growth in the volume of cryptocurrency transactions year on year compared to all transactions in other regions. As the reports confirmed, the Middle East and North Africa region recorded an increase in the volume of cryptocurrency transactions by 48% between June 2021 and June 2022, the largest increase in the world, according to the new Crypto Geography 2022 report published by crypto analytics platform Chainalysis on October 20.  The Middle East and North African countries are at the forefront In second place comes Latin America with year-over-year crypto transaction volume growth of 40%, followed by North America with an increase of 36% and Central and South Asia with 35%. East Asia recorded the slowest growth at just 4%. According to the report, the reason for the growth of the MENA region can be
Read more