BSV Blockchain is pleased to announce that it has officially joined the Linux Foundation. The Linux Foundation is a non-profit organisation that provides a neutral, trusted hub for developers and organisations to code, manage, and scale open technology projects and ecosystems.
It aims to help companies and developers identify and contribute to the projects that matter. Working together, the open-source community is addressing the challenges of industry and technology for the benefit of society
‘The BSV Blockchain has joined the Linux Foundation to share open-source best practices as the open-source body for the BSV blockchain ecosystem. This will align BSV standards with existing international standards and contribute to their development,’ explained Thomas Giacomo, Director of Utilisation at BSV Blockchain.
‘It will also allow companies in the ecosystem to leverage this alignment when they use the open-source wallet reference implementation SPV Wallet and ensure that they comply with regulatory requirements, allowing them to open new markets,’ he said.
This partnership is possible thanks to the hard work of the BSV Blockchain’s Outreach team (including Marcin Rzetecki, Aleksander Gora, and Shawn Ryan), which plays a crucial role in reaching out to these international open-source and standard bodies to ensure the alignment of the BSV Blockchain open-source roadmap to existing standards and also to participate in the creation of these standards, Giacomo said.
The necessity of open standards
The limitations of closed standards lead to interoperability and slowing economic and social progress. At the same time, many countries and organisations are rushing to develop their own standards which means a significant amount of work is being copied and reproduced. .
This means that there is an urgent need for open standards that work across all devices, operating systems, apps, services, currencies, or languages—anytime, anywhere. This is why it is necessary to research, develop, and promote best practices for building digital wallets. There is precedent for this in the W3C standards that helped the web to thrive and evolve.
‘Historically, the growth of commercial digital wallets has been largely centralised, with a few major tech companies controlling much of the digital payments space,’ said Giacomo. ‘However, the increasing adoption of open-source frameworks, which enable large-scale collaboration, is creating unprecedented opportunities for cooperative innovation in digital asset infrastructure.’
New standards for wallets
The team at BSV Blockchain is already intimately familiar with developing wallet standards. In April 2024, BSV Blockchain announced that its new SPV Wallet is now available in public beta.
SPV Wallet is the standardised way that BSV wallets will be able to interact with the BSV network when Teranode and Overlay services go live. It can be used in place of the BSV blockchain node software to validate transactions and make outbound payments. Accepting payments in this way is better for compliance purposes because your server communicates directly with counterparties.
‘This allows KYC and AML data to be validated before any payment negotiations, domain-specific controls, and many configurable options to meet requirements in your jurisdiction,’ said Darren Kellenschwiler, Technical lead of Utilisation at BSV Blockchain.
‘The BSV Blockchain is continuously looking for feedback on the open-source roadmap of the SPV Wallet and plans to rely on ongoing discussions with the Linux Foundation working groups.’
You can learn more about the SPV Wallet here.
