📣 Linux Foundation's New Push for Decentralization
posted 25 Jun 2024
The Linux Foundation, a non-profit organization, is set to launch the LF Decentralized Trust (LFDT). This new platform aims to foster the development of open-source decentralized technologies across a range of sectors, including security, scalability, and finance.
LFDT will also integrate the foundation's prior blockchain initiative, Hyperledger, which has received backing from notable companies such as IBM, Intel, and SAP Ariba. Soon, the platform will provide opportunities for direct funding of both broad initiatives and individual projects.
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 impactsaid Daniela Barbosa, General Manager of Blockchain and Identity at the Linux Foundation.
One of the key motivations behind this new project is the explosive growth in the decentralized technology sector, particularly asset tokenization, which is projected to reach a market capitalization of almost $16 trillion by 2030. This area will be a major focus for the initiative.
The project has already garnered approval from both the decentralized industry and traditional companies. Notable supporters include Hedera's President Charles Adkins and Visa's CBDC Head Catherine Gu, who highlighted the significance of open-source technology.
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