PGP is the name of an encryption program created in 1991 by Philip Zimmerman. Since then, PGP has become the dominant model for personal privacy encryption software.
In July 1998, PGP Inc. proposed an OpenPGP standard to the IETF. This standard would provide guidance for creating personal privacy encryption software, and the term OpenPGP could then be applied to any software that complied with the standard. The IETF accepted the proposal and formed the OpenPGP Working Group to develop the standard.
read more of this post here.