As reported by Cointelegraph, the Linux Foundation has announced its intention to establish the OpenWallet Foundation. This global non-profit organisation promotes innovation within the blockchain ecosystem by providing access to open-source technologies (OWF).

OWF is an initiative to build open-source software to send, receive, store and monitor digital assets to facilitate the interoperability of digital wallets. It involves businesses in the technology and public sectors and stakeholders in the blockchain ecosystem.

As reported by Cointelegraph, according to a September 13 press release, the main goal of OWF is to provide a versatile open-source engine that anyone with technical knowledge can use to create interoperable wallets that increase security, safety and security. The foundation of protecting privacy. It intends to develop an industry standard for e-wallets.

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The foundation will not produce its digital wallet. Still, it will focus on developing an open-source software engine that other businesses, organisations and developers can use to create their multipurpose digital wallets.
Cointelegraph noted that other prominent players, including CVS Health, The Open Identity Exchange, Okta, OpenID Foundation, Ping Identity, Procivis AG, Transmute and Trust Over IP Foundation, are joining the Linux Foundation.