the Linux Foundation hosts and promotes the collaborative development of open source software projects, and today they have announced their intention to form the OpenWallet Foundation (OWF), a new collaborative effort to develop open source software to support interoperability for a wide range of wallet use cases. It would be an open-source software engine for anyone to use to make interoperable digital wallets.

The Open Wallet Foundation aims to set best practices for digital wallet technology through collaboration on open source code for use as a starting point for anyone who strives to build interoperable, secure, and privacy-protecting wallets.

Linux Foundation Executive Director Jim Zemllin said,

“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.”

Probably, we won't see any product any time soon, but this firm start hopefully changes a few things, as the need for a digital wallet gets bigger every day. As they have added, they won't be creating any software but the engine.

You can read the rest of the supporters of this foundation here. OpenWallet Foundation will be featured in a keynote presentation at Open Source Summit Europe on 14 September 2022.