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Linux Foundation Europe Launches OpenWallet Foundation To Power Interoperable Digital Wallets

Thursday February 23, 2023. 07:40 PM , from Slashdot
The Linux Foundation's European off-shoot has formally launched the OpenWallet Foundation (OWF), a new collaborative effort designed to support interoperability between digital wallets through open source software. From a report: The launch comes some five months after the Linux Foundation first revealed plans to set up the OWF, shortly before it spun out a region-specific entity called the Linux Foundation Europe which is where the OWF will now officially reside. While the likes of PayPal, Google, and Apple are among the most recognized digital wallet providers, allowing consumers to conduct financial transactions in-store or online, digital wallets are increasingly being used to store all manner of virtual goods from student ID to driving licenses. On top of that, burgeoning technologies such as the metaverse and crypto are giving rise to greater use-cases for digital wallets.

But one thing all these various environments have in common is that the incumbent digital wallets, for the most part, don't play nicely with each other: an Apple Pay die-hard can't send money to their Google Pay brethren. And that is why the OWF is setting out to create an 'open source engine' that can power interoperable digital wallets across myriad use-cases including identity, payments, and storing personal credentials such as employment and education certification.

Read more of this story at Slashdot.
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