Open Digital Wallet | Infographic

WHAT ARE DIGITAL WALLETS? DIGITAL WALLET ACCESS SECURITY AND DIGITAL WALLETS Digital wallets store Nearly all digital wallets are Security is a constant digital assets, restricted by vendor concern since credentials, and lock-in from the hackers are useful items, such banks, merchants, constantly trying as tickets and keys. companies, or nations new ways to hack that issue them. into digital wallets. CODE SECURITY WALLET FLEXIBILITY THE WORLD OF WALLETS The design, development, and Most digital wallets can Around the world, updates for most wallets are rapidly in a black box only do a few things, countries are all done so consumers implementing controlled by a single wallets to manage organization so that must juggle their digital identity no one else can see multiple wallets. programs. their code. WALLET COMPATIBILITY MARKET ACCEPTANCE THE WAY FORWARD & THE FUTURE Current wallets lack any The success of digital wallets The mission of the Open Wallet Interoperability across standardizing Foundation (OWF) is to create functions, devices, depends on credential issuers, the engine that runs an open source software merchants, and them so they can all stack and best practices nations. interoperate and share that any developer can information. use to create a wallet. THE DIFFERENCE: OWF OWF BENEFITS: CULTURE OWF BENEFITS: DEVELOPMENT OWF wallets will be On top of these shared The OWF continues to build with portable, highly secure, standards, any developer out its stack privacy-preserving, can provide unique feedback from the standards-based, functions, interfaces, worldwide community interoperable, and and customer of those interested in multi-functional. experiences. the challenges of digital wallets. Copyright © 2023 The Linux Foundation | February 2023 This report is licensed under the Creative Commons Attribution-NoDerivatives 4.0 International Public License