Linux Foundation supporting wider array of decentralized technologies

In reaction to the increasing adoption of decentralized technologies, The Linux Foundation has started setting up the LF Decentralized Trust, an expanded umbrella organization aimed at meeting this demand. The organization has indicated its intention to include blockchain, digital identity projects, and other decentralized systems.

The LF Decentralized Trust will host the Hyperledger ecosystem and other communities and standards essential for decentralized systems. According to the Boston Consulting Group, asset tokenization is projected to reach a market cap of USD 16 trillion by 2030. In simple terms, asset tokenization refers to converting the ownership rights of a physical or digital asset into digital tokens on a blockchain.

“With LF Decentralized Trust, we’re expanding our commitment to open source innovation by embracing a wider array of decentralized technologies,” says Jim Zemlin, executive director of the Linux Foundation.

The broader scope of LF Decentralized Trust will encompass the current 14 projects and over 50 labs in the Hyperledger ecosystem along with new areas related to distributed ledgers, smart contracts, decentralized file storage, identity systems, zero-knowledge proofs, multiparty computation, and federated systems.

While the infrastructure of the new organization is being developed, the projects and communities will continue as usual under the Hyperledger Foundation. The Linux Foundation team will work to establish the necessary infrastructure to support the expanded reach and diverse projects of the new organization.

“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,” says Daniela Barbosa, general manager of Blockchain and Identity at the Linux Foundation.

Article Topics

decentralized ID  |  digital identity  |  LF Decentralized Trust  |  Linux Foundation