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The Linux Foundation will launch an organization to support the development of crypto wallets

The Linux Foundation, a non-profit organization, has announced plans to launch the OpenWallet Foundation (OWF). As the name suggests, the organization will promote the development of cryptocurrency wallets.

OWF will allow private companies and government departments, as well as interested members of the blockchain community, to join forces to create open source digital wallet projects. Using common standards will make them compatible. In addition, OWF will develop various tools for developing cryptocurrency wallets.

One of the main goals of OWF is to create a multi-purpose open source digital asset engine. Anyone with the necessary knowledge will be able to use this engine to create their own secure and compatible wallets. The organization is committed to implementing best practices in digital wallet technology.

“We are confident that digital wallets will play a critical role in the crypto community. Open source software is the key to interoperability between security systems. We are excited to support the OpenWallet Foundation and are confident in the organization’s potential,” said Jim Zemlin, Executive Director of the Linux Foundation.

In April this year, the Linux Foundation partnered with the American Association of Insurance Services (AAIS) to launch a blockchain-based Open Insurance Data Link platform for insurance companies.

Source: Bits

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