The Linux Foundation recently announced the launch of a new organization that seeks to advance the creation of a more trustworthy and collaborative digital ecosystem.
Call Linux Foundation Decentralized Trust o LF Decentralized TrustThis new organization seeks to promote the development of decentralized technologies, such as blockchain, DLT, among others.
Currently, the LF Decentralized Trust has more than 100 founding members, among which are Hedera's participation is highlighted, an open-source public network focused on scalability, simplifying transactions, decentralized application development, and tokenization of real-world assets (RWA).
In a recent statement shared by the Linux Foundation, it was reported that Hedera has donated its source code as part of its commitment to the new organization.
LF Decentralized Trust: A new home for decentralized innovation
LF Decentralized Trust is established as the leading open source foundation that will be dedicated to decentralized technology, including blockchain, digital identity, and cryptography.
According to the Linux Foundation, This organization has more than 17 projects, who share the vision of providing a neutral environment that fosters collaboration and innovation in the development of digital trust systems.
Daniela Barbosa, general manager of decentralized technologies at the Linux Foundation, underlined the importance of the launch of the LF Decentralized Trust, emphasizing that “Decentralized technologies are modernizing critical systems and core infrastructure”He stressed that the LF Decentralized Trust presents itself as a space where communities can collaborate to create solutions that provide transparency, reliability and security on a global scale.
Hedera, Founding Member of LF Decentralized Trust
On the other hand, the inclusion of Hedera as a founding member of the LF Decentralized Trust is a notable milestone. Hedera, known for its ledger technology and focus on scalability and security, will contribute its codebase to the Hiero project, which will become a key component of LF Decentralized Trust.
The Linux Foundation explained This collaboration reinforces the decentralized organization's vision of promoting the construction of a more interconnected and trustworthy digital ecosystem.
But in addition to Hedera, the LF Decentralized Trust also includes other prominent projects and members, such as renowned institutions and projects in the blockchain technology sector. Founding members of the new organization include: Accenture, DTCC, Hashgraph, Hitachi, and others like the Central Bank of Brazil, Polygon y Tata Consultancy ServicesThis diversity of membership reflects a collective commitment to advancing the organization’s mission by modernizing critical systems and core infrastructure with emerging technologies like blockchain.
The LF Decentralized Trust is based on the accumulated experience of more than eight years of work at the Linux Foundation, which includes global open source projects and blockchain standards. In addition, the organization incorporates initiatives such as Trust Over IP (ToIP), which seeks to establish a common standard for digital trust on the Internet.
A new chapter for decentralized technologies
The projects that are part of this new organization span a variety of areas, from decentralized ledger with Hiero, to key management and digital signature protocols through Lockness. The variety of projects demonstrates the potential of the LF Decentralized Trust to drive innovation on multiple fronts and create a robust ecosystem that supports the growth of the digital economy.
According to its founders, the launch of the LF Decentralized Trust will have profound implications for the future of the digital economy. As decentralized technologies continue to evolve, they are expected to become the foundation for the next generation of the Internet. In this regard, Michael Klein, blockchain technology leader at Accenture, emphasized that “Open standards and open source initiatives will drive cross-industry collaboration and serve as the foundation for the next generation of the Internet.”
Likewise, Ami Ben David, founder and CEO of Ownera, commented that “The mission of the LF Decentralized Trust aligns perfectly with our vision of creating a more unified and efficient digital asset market”, stressing that all this collective work will have a significant impact on the future of digital finance.
In short, the creation of LF Decentralized Trust represents a crucial step in building a more connected and trustworthy digital ecosystem. With the support of its founding members, the organization is well positioned to lead the transition to a digital economy that prioritizes transparency and security.
The Linux Foundation plans to host the first LF Decentralized Trust Member Summit in October, an event that will discuss the organization’s expanded technologies and applications. Additionally, the event will be a space for members of the new organization to share ideas and collaborate on developing innovative solutions that benefit the community and the decentralized technology industry as a whole.
