This week the Linux Foundation announced a new organization for decentralized systems and technologies, with an aim of "fostering innovation and collaboration" in both their development and deployment. It will build on existing Linux Foundation blockchain and digital identity projects, according to the announcement, while supporting "a rapidly growing decentralized technology landscape."To foster this broader ecosystem, LF Decentralized Trust will encompass the growing portfolio of Hyperledger projects and host new open source software, communities, standards, and specifications that are critical to the macro shift toward decentralized systems of distributed trust.... LF Decentralized Trust's expanded project and member ecosystem will be both essential to emerging tokenized assets classes and networks, as well as to modernizing the core infrastructure for finance, trade, government, healthcare, and more. LF Decentralized Trust will serve as a neutral home for the open development of a broad range of ledger, identity, security, interoperability, scale, implementation, and related technologies... LF Decentralized Trust will also include new directed funding models that will drive strategic investments by members into individual projects and project resources. "With LF Decentralized Trust, we're expanding our commitment to open source innovation by embracing a wider array of decentralized technologies," said Jim Zemlin, Executive Director of the Linux Foundation. "This new, elevated foundation will enable the community to build a more robust ecosystem that drives forward transparency, security, and efficiency in global infrastructure." "After eight years of advancing the development of blockchain, decentralized identity and related technologies via the Hyperledger community, the time has come to broaden our effort and impact," said Daniela Barbosa, General Manager, Blockchain and Identity, the Linux Foundation. "Ledgers and ledger technologies are but one component of the decentralized systems that will underpin a digital-first global economy. LF Decentralized Trust is where we will gather and grow an expanded community and portfolio of technologies to deliver the transparency, reliability, security and efficiency needed to successfully upgrade critical systems around the world." The announcement includes quotes of support from numerous companies including Oracle, Siemens, Visa, Accenture, Citi, and Hitachi. Some highlights:"The formation of the LF Decentralized Trust reflects the growing demand for open source resources that are critical to the management and functionality of decentralized systems."CEO of Digital Asset "The adoption of decentralized infrastructure is at an inflection point, reflecting the increasing demand from both enterprises and consumers for more secure and transparent digital transactions. As the industry leader for onchain data, blockchain abstraction, and interoperability, we're excited to see the formation of the LF Decentralized Trust and to expand our collaboration with leading financial institutions on advancing tokenized assets and the onchain economy at large."CMO at Chainlink Labs."As a founding member of the Hyperledger Foundation, and given our unique position in the financial markets, we recognize the vast potential for open-source innovation and decentralized technologies when it comes to reducing risk, increasing resiliency and improving security. The expansion of Hyperledger Foundation into LF Decentralized Trust represents an exciting opportunity to continue expanding these groundbreaking technologies."a managing director at DTCCRead more of this story at Slashdot.
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