Linux Foundation forms trust for advancing decentralisation

The Linux Foundation has announced plans to establish the Linux Foundation Decentralized Trust (LF Decentralized Trust), a new umbrella organisation aimed at supporting the advancement of decentralised technologies.

Building on the foundation’s existing blockchain and digital identity projects, LF Decentralized Trust will encompass the Hyperledger project portfolio and host new open source software, communities, standards, and specifications critical to the shift towards decentralised systems of distributed trust.

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

The move comes in response to the growing market for and adoption of decentralised technologies. Asset tokenisation alone is predicted to have a $16 trillion market cap by 2030, according to the Boston Consulting Group.

Daniela Barbosa, General Manager of Blockchain and Identity at the Linux Foundation, explained: “After eight years of advancing the development of blockchain, decentralised identity and related technologies via the Hyperledger community, the time has come to broaden our effort and impact. Ledgers and ledger technologies are but one component of the decentralised systems that will underpin a digital-first global economy.”

LF Decentralized Trust will serve as a neutral home for the open development of a broad range of technologies, including ledger, identity, security, interoperability, scale, and implementation. The organisation will also introduce new directed funding models to drive strategic investments by members into individual projects and resources

Industry leaders have expressed strong support for the initiative. Michael Klein, Managing Director and Blockchain Technology Lead for Accenture, commented: “As a founding member of the LF Decentralized Trust, Accenture will work alongside the vast developer community, our clients, and our partner network to apply the strength of decentralised systems and drive impactful change in this world.”

Ryan Rugg, Head of Digital Assets for Treasury and Trade Solutions at Citi, added: “The expanded scope of the LF Decentralized Trust is a welcome development to further support the evolution of decentralised technologies and assess a broader set of tools with the potential to reshape financial infrastructures.”

The initiative has also garnered support from government entities. CJ Ritchie, Associate Deputy Minister and Government Chief Information Officer at the Ministry of Citizens’ Services, Government of British Columbia, stated: “This project under the Linux Foundation aligns with our commitment to work in the open. By fostering collaboration, sharing updates, and making community-built trust technologies widely available, LF Decentralized Trust will strengthen the framework for critical services.”

LF Decentralized Trust aims to play a crucial role in driving open source development of decentralised systems with distributed trust. The organisation will focus on modernising core infrastructure for finance, trade, government, healthcare, and other sectors.

As the digital landscape continues to evolve, LF Decentralized Trust is poised to become a key player in shaping the future of decentralised technologies and fostering innovation across industries.

(Photo by ANIRUDH)

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Tags: blockchain, decentralization, decentralized trust, hyperledger, linux, linux foundation, open source