The Linux Foundation announced the creation of a dedicated fund to support tech innovations by open source projects in blockchain, digital identity, and cryptography. Participants include major software developers, IT companies, and financial institutions.
Linux Foundation, a non-profit consortium for the development of operating systems based on the Linux kernel, presented the Linux Foundation Decentralized Trust (LFDT), an organization aimed at supporting decentralized technologies. Its main goal is to develop ecosystems based on blockchain, distributed ledgers (DLT), digital identity, cryptography, and other open source innovations.
The fund was co-founded by more than 100 representatives of various companies. The initiative is supported by 13 key organizations, namely:
- software companies AYANWORKS, Print2Block, Dfns, Serviço Federal de Processamento de Dados (SERPRO), and Ownera;
- Dhiway, a provider of solutions for the storage and management of auditable credentials;
- Exponential Science Foundation (EFS), a non-profit organization formerly known as the DLT Science Foundation;
- blockchains Hashgraph, Polygon, Rayls, and Wanchain;
- Banco Central do Brasil (BCB);
- Tata Consultancy Services (TCS), a multinational IT consulting firm.
The foundation is leveraging the work of the Hyperledger Foundation and the Trust Over IP Foundation as its foundation. The LFDT utilizes Hedera’s open-source code and consensus algorithm, along with innovations from Hyperledger Fabric 3.0 and Hyperledger Identus. Digital trust management within the LFDT is provided by Trust Over IP and Lockness, a key management technology from Dfns.
According to Daniela Barbosa, General Manager of Distributed Technologies at the Linux Foundation and Executive Director of the LFDT, the fund was created to foster projects that build trustworthy and secure systems within the digital economy. She emphasized that the foundation’s main mission is to ensure transparency, reliability, and efficiency of technologies on a global scale.
In Q2 2024, the number of daily unique active wallets (dUAW) was about 10 million, marking a 40% increase compared to 2023.
