About OpenWallet

OpenWallet.org is an Open Source Wallet Project with the aim to support Open Standards (such as, for now, OpenTransact, OSCurrency and OAuth). An initial implementation was developed using PHP, the Zend Framework, and PostgreSQL.

An additional Open Standard I am working on, is the ability for the system to automatically detect financial details using private/public key encryption published via DNS TXT records, which also contain URL’s for automatic financial services discovery.

The first models implemented by the POC is a Pre-Paid business model, with a connection to online banks and credit card billing. The general idea is that you can recharge your virtual account either by using a Pre-Paid card, or a Credit Card, you can accumulate funds, you can pay merchants, and those merchants can also transfer their funds to their bank account, either automatically on a monthly basis, or manually.

Compliance is built into the Engine, in the form of Workflows, Roles & ACL. Various roles and access controls are set based on submitted documentation/information, which is then validated either automatically or by a team of humans.

The code is not yet public, because it is still only maintained by one person (myself), and it is also still unfinished even for the first Proof Of Concept. If you are interested in this field, and don’t mind your work being public, you are welcome to join. At this point, I will only accept serious developers who intend to actually contribute from their knowledge and experience, write code & produce proper documentation for the project.

It is expected that at a later stage, as the project reaches some level of maturity, that the Git repository will be made public, along with a proper installable package for general consumption.