Circle Joins Jack Dorsey's TBD and Linux Foundation to Develop Open-Source Standards for Decentralized Identity

According to Foresight News, Circle has announced its partnership with Jack Dorsey's Bitcoin subsidiary TBD and the Linux Foundation to establish a non-profit foundation. The collaboration aims to create open-source standards, credentials, and open payments built on the blockchain for decentralized identity.The partnership will focus on developing a set of open-source standards that can be used to build decentralized identity systems, allowing users to have more control over their personal information and online presence. By leveraging blockchain technology, the foundation aims to create a more secure and transparent way for individuals to manage their digital identities.In addition to creating open-source standards, the collaboration will also work on developing credentials that can be used to verify users' identities in a decentralized manner. This will help to reduce the reliance on centralized systems and improve privacy for users.The partnership will also focus on building open payments on the blockchain, enabling users to make transactions without the need for intermediaries. This will help to reduce transaction costs and increase the efficiency of the payment process.By joining forces with TBD and the Linux Foundation, Circle aims to contribute to the development of a more decentralized and secure digital identity ecosystem. The collaboration will work towards creating a more inclusive and accessible digital world for users, while also promoting the adoption of blockchain technology.