Announcement: ToIP Joins the OWF as an Associate Member
We are excited to announce that the Trust over IP Foundation (ToIP) is joining the OpenWallet Foundation (OWF) as an associate member.
As a founding steering member of ToIP, Continuum Loop is pleased to see the mission of the OWF aligning so closely with that of ToIP.
The OWF is an open-source project of the Linux Foundation that aims to develop a digital wallet “engine” that anyone can use to build secure, privacy-respecting, interoperable multi-purpose wallets. The OWF compares this wallet engine to the open-source browser engines that currently power all major Internet browsers.
As the mission of the OWF is highly relevant to the ToIP Foundation, the ToIP Foundation is joining the OWF as an Associate Member. The ToIP Foundation will support the development of OWF code projects by providing requirements, specifications, governance tools, and best practices on how OWF code modules can accomplish interoperability using the ToIP stack.
The Wallet Report
Continuum Loop has been at the forefront of defining a digital wallet, clarifying the industry and ecosystem, and providing organizations with guidance on moving forward as the ecosystem develops. In 2019, we published “The Current and Future State of Digital Wallets,” a report which provides an in-depth overview of the digital wallet ecosystem and its evolution.
During our webinar “The Wallet Report – 2021 Update,” Darrell O’Donnell and Drummond Reed reviewed the key takeaways from the report and provided updates on the digital wallet industry. They discussed the growth of single-use wallet apps, the slow adoption of DIDComm, and the potential for cloud/custodial digital wallets despite security concerns. They also touched on the challenges of digital wallet standards and interoperability and the need for trust registries.
We are thrilled to see ToIP joining the OWF as an associate member. We look forward to the ongoing dialogue between the two organizations as they work towards the continued growth and adoption of decentralized digital identity solutions!
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