By
Svetlana Soroka
August 17th, 2022
The Linux Foundation, a non-profit organization renowned for its pioneering work in open-source technology, is set to launch the Linux Foundation Decentralized Trust (LF Decentralized Trust).
This trust will be designed to spearhead advancements in blockchain and digital identity technologies in response to the growing demand for decentralized systems.
The Linux Foundation already has a history of promoting the growth of open-source software projects and creating sustainable ecosystems around open-source technologies. Now, it focus is on blockchain technology and decentralised innovations.
A Hub for Open Development
According to a shared press release, LF Decentralized Trust will integrate the Linux Foundation’s extensive portfolio of blockchain and digital identity projects.
The move aims to support the hosting of new open-source softwares and communities, as well as standards, and specifications critical to fostering a decentralized ecosystem of distributed trust. The initiative will help industries transition to more transparent, secure, and efficient infrastructures.
“With LF Decentralized Trust, we are expanding our commitment to open-source innovation by embracing a wider array of decentralized technologies. This new foundation will enable the community to build a more robust ecosystem that drives transparency, security, and efficiency in global infrastructure,” said Jim Zemlin, the executive director of the Linux Foundation.
The trust will serve as a central hub for the development of a wide range of technologies, including ledgers, identity systems, security protocols, interoperability solutions, and scalability enhancements.
It aims to foster innovation and collaboration, leveraging the strengths of the existing Hyperledger projects while introducing new initiatives to address the broader needs of the decentralized technology landscape.
Supporting Innovation and Collaborations
The Linux Foundation has already achieved significant success in advanced projects in various domains, including cloud computing, networking, and now, its focusing on decentralized technologies.
The shift towards decentralized technologies is expected to revolutionize multiple sectors including asset tokenization. The Foundation cited a research conducted by the Boston Consulting Group which predicted that asset tokenization will reach $16 trillion by 2030.
In line with this, the nonprofit group plans to position LF Decentralized Trust to play a pivotal role in helping the sector reach the predicted outcome within the stipulated time frame.
In addition, the initiative will modernize core infrastructures in finance, trade, government and healthcare sectors. LF Decentralized Trust will also foster collaboration and innovation, supporting the creation of technologies that underpin a digital-first global economy.
Commenting on the new development, Daniela Barbosa, the general manager of blockchain and identity at the Linux Foundation, echoed the same sentiment as Zemlin. She disclosed that the planned introduction of “LF Decentralized Trust will gather and grow an expanded community and portfolio of technologies to deliver the transparency, reliability, security, and efficiency needed to upgrade critical systems worldwide.
