Ripple joins DeRec Alliance, a digital asset recovery protocol founded by Algorand Foundation and Hedera developers

BlockBeats news, on May 9, according to The Block, Ripple and XRP Labs joined Hedera developer Swirlds Labs and Algorand Foundation to become founding members of the Decentralized Recovery (DeRec) Alliance.

The DeRec Alliance aims to provide an open source process to accelerate the recovery of digital assets. Members work together to develop a new interoperability recovery standard that is suitable for ordinary users. Other members of the DeRec Alliance include Acoer, BankSocial, Blade Labs, The Building Blocks, Casper Association, Constellation Network, Hashgraph Association, HBAR Foundation and Revive Labs.