LF Decentralized Trust Adds HKMA, Mastercard, and More as Members

Spotlights Line-up of New Projects, Releases, Labs, and Deployments at First Meeting of Global Community at Member Summit

SAN FRANCISCO and HONG KONG, Oct. 28, 2024 /PRNewswire/ --Today, Linux Foundation Decentralized Trust (LF Decentralized Trust), the premier open source foundation for decentralized technology ecosystems, announced Gala Games, Mastercard, Qila, and Stellar as additional general members. In addition, Hong Kong Monetary Authority (HKMA) has joined as an associate member. 

With HKMA, there are now a total eight central banks and financial authorities that are associate members of LF Decentralized Trust. As members, they play a valuable role in defining the technical requirements for Central Bank Digital Currencies (CBDCs) and encouraging consistent development and application of common components in projects worldwide. This work is on display in sessions like the Project Ensemble roundtables taking place during Hong Kong Fintech Week, which features contributions and insights by Daniela Barbosa, General Manager of Decentralized Technologies at the Linux Foundation and Executive Director of LF Decentralized Trust. 

"As we continue to develop and enhance the Ensemble Sandbox, the HKMA is proud to support the Linux Foundation Decentralized Trust as a founding member," said George Chou, Chief Fintech Officer, Hong Kong Monetary Authority. "This initiative aligns perfectly with Project Ensemble's commitment to fostering innovation through open-source technologies. By leveraging decentralised technology in the Sandbox, the HKMA aims to enhance the efficiency, transparency, security and interoperability of the tokenisation market in Hong Kong. We believe that collaboration within this vibrant ecosystem can promote meaningful advancements in financial services, ultimately benefiting all stakeholders."

These new members joined in time for LF Decentralized Trust Member Summit, the first convening of the organization's global member community. Member Summit is a member-only forum for discussing the growing line-up of LF Decentralized Trust projects, labs, and deployments and engaging the global community in planning for the upcoming year. As a lead-up to the summit, the technical leadership of LF Decentralized Trust projects gathered for a two-day, invite-only Maintainer Days event to share knowledge, collaborate, and strategize project roadmaps.

The Member Summit agenda featured speakers from around the world sharing development and deployment updates and lessons, including the latest on multiple new labs and projects as well as deep dives into cross chain, token, and privacy requirements and technologies. 

"The creation of LF Decentralized Trust has created a groundswell of interest and action from new and existing members and project communities," said Barbosa. "There is a robust pipeline of proposals for new technologies to come under our umbrella as new projects, labs, and updates, reflecting the excitement for a neutral host for this next generation market infrastructure. The involvement and investment from these additional members will be valuable as we look to scale LF Decentralized Trust to meet the needs of the community and the market."

New General Member Quotes

The support of LF Decentralized Trust's members is what makes it a neutral home for technical collaboration and innovation:

Gala Games

"Our membership in LF Decentralized Trust and collaboration with the Hyperledger Fabric community represent a groundbreaking moment in Gala's journey to reshape entertainment through decentralized technology," said Eric Schiermeyer, founder and CEO of Gala Games. "With GalaChain, we're creating a blockchain specifically designed for the worlds of gaming, film, and music—an industry-first. We're excited to work with the best in the field, driving innovation and setting the standard for Web3 entertainment."

Mastercard

"Mastercard and the Linux Foundation share a common vision to drive innovation, set new standards for digital transactions, and foster a more inclusive and efficient digital economy," said Raj Dhamodharan, executive vice president, Blockchain and Digital Assets at Mastercard. "As a founding member of the Linux Foundation Decentralized Trust, we're excited to bring our expertise and Multi-Token Network (MTN) solution together to advance secure, scalable, and interoperable solutions that support the future of global financial applications and services."

Qila

"Qila.io is excited to become a member of the Linux Foundation Decentralized Trust, contributing to the transformative journey of Web3 infrastructure, where decentralized solutions are reshaping value creation," stated Sid Ugrankar, CEO of Qila. "By joining this esteemed initiative, we are committed to empowering enterprises, developers, and communities to seamlessly adopt blockchain and tokenization technologies. Our focus is on fostering innovation and transparency to support a more secure and inclusive digital ecosystem, driving impactful changes, and helping to build the decentralized economy of tomorrow."

Stellar

"The Stellar Development Foundation is joining LF Decentralized Trust because it aligns with the foundation's mission to create equitable access to the global financial system through blockchain technology," said Stellar Development Foundation CEO Denelle Dix. "Being a part of LF Decentralized Trust gives the Stellar Development Foundation the opportunity to collaborate with other leaders in blockchain to shape this technology and deliver real world utility that solves problems for people."

About Linux Foundation Decentralized Trust

LF Decentralized Trust is the neutral home for the open development of technologies that empower organizations to innovate with secure and resilient code. It is the Linux Foundation's flagship organization for a broad range of technologies and standards that deliver the transparency, reliability, security, and efficiency required for a digital-first economy. Supported by a diverse, global base of members and communities, LF Decentralized Trust champions open source best practices across a growing ecosystem of blockchain, ledger, identity, cryptographic, and related technologies. To learn more, visit: www.lfdecentralizedtrust.org.

About the Linux Foundation

The Linux Foundation is the world's leading home for collaboration on open source software, hardware, standards, and data. Linux Foundation projects, including Linux, Kubernetes, Node.js, ONAP, OpenChain, OpenSSF, PyTorch, RISC-V999, SPDX, Zephyr, and more, are critical to the world's infrastructure. The Linux Foundation focuses on leveraging best practices and addressing the needs of contributors, users, and solution providers to create sustainable models for open collaboration. For more information, please visit us at linuxfoundation.org.

The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see its trademark usage page: www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds.

Contact:
Emily Fisher
LF Decentralized Trust
[email protected]

SOURCE LF Decentralized Trust