Linux Foundation Announces Intent to Form LF Decentralized Trust

This week the Linux Foundation announced a new organization for decentralized systems and technologies, with an aim of "fostering innovation and collaboration" in both their development and deployment.

It will build on existing Linux Foundation blockchain and digital identity projects, according to the announcement, while supporting "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....

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... 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."
The announcement includes quotes of support from numerous companies including Oracle, Siemens, Visa, Accenture, Citi, and Hitachi. Some highlights:

• "The formation of the LF Decentralized Trust reflects the growing demand for open source resources that are critical to the management and functionality of decentralized systems." — CEO of Digital Asset

• "The adoption of decentralized infrastructure is at an inflection point, reflecting the increasing demand from both enterprises and consumers for more secure and transparent digital transactions. As the industry leader for onchain data, blockchain abstraction, and interoperability, we're excited to see the formation of the LF Decentralized Trust and to expand our collaboration with leading financial institutions on advancing tokenized assets and the onchain economy at large." — CMO at Chainlink Labs.

• "As a founding member of the Hyperledger Foundation, and given our unique position in the financial markets, we recognize the vast potential for open-source innovation and decentralized technologies when it comes to reducing risk, increasing resiliency and improving security. The expansion of Hyperledger Foundation into LF Decentralized Trust represents an exciting opportunity to continue expanding these groundbreaking technologies." — a managing director at DTCC

Sounds like concentrated bullshit

[gweihir]

No idea why they are trying that.

Re:

[haruchai]

Bullshit is a renewable asset.

That said, Linus Torvalds would be spinning in his grave knowing such a hare-brained scheme is using his trademark.

1) Torvalds is still alive.
2) He WORKS for the Linux Foundation!!!

Re: Sounds like concentrated bullshit

[guruevi]

The Linux Foundation is just a conglomeration of large companies that want to openwash their own fauxpen source practices. 70% of the Linux Foundation does not adhere to the GPL. They spend just 2% of their revenue on things that benefit Linux.

Crypto bros, here?

[fuzzyfuzzyfungus]

Did the crypto bros just emerge suddenly; or have they been steadily infiltrating for some time and just saw an opportunity to strike?

This press release sounds like it was issued from that dark period when 'the blockchain' was still the hyped tech fad of the day.

Finally hit the big time

[jmccue]

Looks like Linux reached the big time, that announcement was filled with Marketing Drival and I could not fully understand it. I miss the old days.

Why?

[Gibgezr]

Daniela Barbosa, General Manager, Blockchain and Identity, the Linux Foundation

Why does that position exist? Who thought "we need a GM of BLOCKCHAIN!"

Re:

[chthon]

Barbosa, isn't that the name of a well-known pirate?

Re:

[business_kid]

After noting SBF's considerable assets, I suppose the LF feel there's money to be made handling all these contributions towards OSS. I very much preferred the days when the Linux Foundation basically did nothing except a few annual press releases.

The B.S. press release made little sense to me, and I think I'd have a problem if it did. I hope they're ignored by the programmers with marketable skills who are the real assets of OSS. These are guys who make OSS the envy of every tight-assed closed source com