Although the study of software transparency has deep roots in software engineering, a shared definition and practical application in real-world development contexts remain elusive. Through an in-depth analysis of the academic and industrial landscape, this article provides an overview of the current state of knowledge on software transparency, outlining a path to a deeper understanding of the subject for both developers and researchers. The challenge of software transparency involves not only establishing a formal, widely accepted understanding within the community, but also measuring and quantifying it in production environments. To this end, we survey academics and developers to evaluate an innovative approach to defining transparency and present a vision of a new framework for its quantification.