FinTech news in linux foundation category

It’s worth noting that the OWF doesn’t intend to develop a digital wallet itself or create any new standards — it’s all about fostering a collaborative, community effort to develop an open foundation for any organization to create their own digital wallets atop. But digital wallets have gradually morphed beyond payments and are emerging as potential replacements for everything you might keep in your physical wallet — Apple, for example, now lets drivers store their license in digital form on their iPhones. The Linux Foundation has announced plans for a new collaborative initiative designed to support interoperability across digital wallets, built on an open source bedrock. The OpenWallet Foundation (OWF), as the new effort is called, is the brainchild of Daniel Goldscheider, CEO of open banking startup Yes.com, though today announcement reveals a broad gamut of buy-ins from multiple industry players, including Okta, Ping Identity, Accenture, CVS Health and OpenID Foundation, among several other public and private bodies.