Google & Microsoft Blockchain Web3 Crypto Wallet

Google and Microsoft have joined the OpenWallet Foundation, a Linux Foundation project that is working to create open source software for interoperable digital wallets. Smart Media Technologies is one of the founding members of the foundation.

This is a significant development for the future of digital wallets and the cryptocurrency industry. Google and Microsoft are two of the largest technology companies in the world, and their joining of the foundation could help to legitimize digital wallets and make them more mainstream.

The OpenWallet Foundation is a non-profit organization that was launched in February 2023. It is hosted by the Linux Foundation and its goal is to create open source software for interoperable digital wallets.

An interoperable digital wallet is a wallet that can be used to store and manage a variety of different digital assets, including cryptocurrencies, fiat currencies, and loyalty points. Interoperable digital wallets make it easier for people to use digital assets in everyday life.

The OpenWallet Foundation is working on a number of projects to achieve its goal, including:

Developing standards for digital wallets
Creating open source software libraries that can be used by wallet developers
Promoting the adoption of open source software for digital wallets
The foundation has over 30 members, including Google, Microsoft, Visa, American Express, and Mastercard. This diverse membership shows that there is a strong interest in open source software for digital wallets from a wide range of stakeholders.

There are a number of potential benefits of open source software for digital wallets:

Open source software is more transparent and secure than proprietary software. This is important for digital wallets, which store sensitive financial information.
Open source software is also more flexible and customizable than proprietary software. This means that wallet developers can create wallets that meet the specific needs of their users.
Open source software can also help to reduce the cost of developing and maintaining digital wallets.
Overall, the joining of Google and Microsoft to the OpenWallet Foundation is a positive development for the future of digital wallets. It could help to make digital wallets more mainstream and accelerate the development of open source software for digital wallets. This could benefit the cryptocurrency industry as a whole by making it easier for people to use digital assets in everyday life.

Here are some additional thoughts on the potential impact of Google and Microsoft joining the OpenWallet Foundation:

Google and Microsoft could use their platforms to promote digital wallets and make them more accessible to a wider audience. For example, Google could add support for digital wallets to its Chrome browser and Google Pay platform. Microsoft could add support for digital wallets to its Windows operating system and Xbox gaming console.
Google and Microsoft could also develop their own digital wallets or invest in existing digital wallet companies. This would increase competition in the digital wallet market and could lead to better products and services for consumers.
Google and Microsoft could also use their expertise in artificial intelligence and machine learning to develop new features for digital wallets, such as fraud detection and risk assessment.
Overall, the joining of Google and Microsoft to the OpenWallet Foundation is a significant development for the future of digital wallets and the cryptocurrency industry. It could lead to a number of positive changes, such as making digital wallets more mainstream, accelerating the development of open source software for digital wallets, and improving the security and usability of digital wallets.

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