Our physical wallets are quickly becoming digitized to support the transfer of digital assets, from currency to concert tickets. Creating hundreds of different digital wallets causes a vendor lock-in which leads to a lack of interoperability and functionality amongst services. Meanwhile, the fragmentation of their design and development means that the security of these wallets is not always as strong as it could be.
The Open Wallet Foundation (OWF) was formed to support the development of wallets that are portable, secure, and that anyone can use on any device, with any operating system, for any app or service, and with any currency. This whitepaper traces the origins of digital wallets, the opportunities and obstacles in this area of development, and where the OWF comes in.
Author: Gordon Graham
With a foreword by Daniel Goldscheider, Founder, OpenWallet Foundation
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