Linux Foundation Announces Intent to Form LF Decentralized Trust

News provided by

Jun 25, 2024, 08:00 ET

Expanded umbrella organization will host the growing Hyperledger ecosystem and accommodate additional technologies and communities

SAN FRANCISCO, June 25, 2024 /PRNewswire/ -- Today, in recognition of the growing market for and adoption of decentralized technologies, the Linux Foundation announced plans to form Linux Foundation Decentralized Trust (LF Decentralized Trust). This new umbrella organization builds on the global strength of existing Linux Foundation blockchain and digital identity projects and creates room to support a rapidly growing decentralized technology landscape. To foster this broader ecosystem, LF Decentralized Trust will encompass the growing portfolio of Hyperledger projects and host new open source software, communities, standards, and specifications that are critical to the macro shift toward decentralized systems of distributed trust.

Decentralized technologies are quickly reshaping markets and disrupting traditional business models and systems. Asset tokenization alone is predicted to have a USD16 trillion market cap by 2030, according to the Boston Consulting Group. LF Decentralized Trust's expanded project and member ecosystem will be both essential to emerging tokenized assets classes and networks, as well as to modernizing the core infrastructure for finance, trade, government, healthcare, and more.

LF Decentralized Trust will serve as a neutral home for the open development of a broad range of ledger, identity, security, interoperability, scale, implementation, and related technologies. It will be the Linux Foundation's flagship organization for fostering innovation and collaboration in the development and deployment of these foundational technologies. LF Decentralized Trust will also include new directed funding models that will drive strategic investments by members into individual projects and project resources.

"With LF Decentralized Trust, we're expanding our commitment to open source innovation by embracing a wider array of decentralized technologies," said Jim Zemlin, Executive Director of the Linux Foundation. "This new, elevated foundation will enable the community to build a more robust ecosystem that drives forward transparency, security, and efficiency in global infrastructure."

"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 impact," said Daniela Barbosa, General Manager, Blockchain and Identity, the Linux Foundation. "Ledgers and ledger technologies are but one component of the decentralized systems that will underpin a digital-first global economy. 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."

LF Decentralized Trust will play a crucial role in driving open source development of decentralized systems with distributed trust. Learn more about membership opportunities, important details, news, and updates for LF Decentralized Trust here.

View the full release with supporting quotes.

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 are critical to the world's infrastructure, including Linux, Kubernetes, Node.js, ONAP, OpenChain, OpenSSF, PyTorch, RISC-V, SPDX, and more. 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

Media Contact
Noah Lehman
The Linux Foundation
[email protected]

SOURCE The Linux Foundation