OpenWallet Foundation launches to boost digital wallet interoperability
Linux Foundation Europe has set up the OpenWallet Foundation (OWF) in order to develop open-source software that supports digital wallet interoperability.
OWF will develop software to support digital wallet interoperability
Although the OWF will not produce a wallet itself, nor offer credentials or create new standards, it intends to provide the “open-source software engine” that organisations and companies can leverage to develop their own digital wallets.
The OWF’s software will support a wide range of wallet use cases, including making payments, proving identity, and storing validated credentials such as employment, education, financial standing, and entitlements.
Issues surrounding digital wallets, including vendor lock in, lack of interoperability, questionable security, and limited capabilities, will also be addressed.
Non-profits and academic and government entities have joined the foundation, including Decentralized Identity Foundation, DIACC, DIDAS, Digital Dollar Project, DIZME, Hyperledger Foundation, Johannes Kepler University Linz, Identity 2020 Systems, IDunion SCE, Massachusetts Institute of Technology (MIT) Connection Science, MOSIP, OpenID Foundation, Open Identity Exchange, Secure Identity Alliance, Universitat Rovira i Virgili, and the Trust Over IP Foundation.
Linux Foundation Europe general manager Gabriele Columbro says: “The EU has been a leading force in data privacy and consumer protection, and efforts like OWF offer a concrete opportunity for policy makers to “shift left” their engagement, enabling a continuous and transparent feedback cycle between regulations and regulated technology.”
