The Linux Foundation has announced the OpenWallet Foundation (OWF), an open-source, collaborative engine by Daniel Goldscheider, the CEO of open banking startup Yes.com that is designed to support interoperability across digital wallets and help organizations develop their own digital wallets.
Hosted by the Linux Foundation, the initiative delivers on the goal that regulatory bodies in Europe have been striving for. As Goldscheider puts it, this achieves a “plurality of wallets based on a common core.”
David Treat, Global Metaverse Continuum Business Group & Blockchain lead at Accenture, explained: ““Universal digital wallet infrastructure will create the ability to carry tokenized identity, money, and objects from place to place in the digital world,” empowering businesses and individuals to collaborate inclusively and securely in unprecedented ways.
Jim Zemllin, Linux Foundation Executive Director, added: “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.”
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