Ripple and XRPL Labs join Swirlds Labs and the Algorand Foundation as founding members of the DeRec Alliance.

Entities from across the Hedera and Algorand ecosystems, including the HBAR Foundation, Algorand Foundation, the Hashgraph Association, Swirlds Labs, the DLT Science Foundation, and industry partners The Building Blocks and BankSocial have partnered to develop an open standard for the protection and recovery of secrets.

Decentralized Recovery (DeRec) is a novel method that safeguards a user’s secrets (a list of passwords, a blockchain account key, grandma’s spaghetti recipe, etc) in a way that they can be recovered in case the original records of them are lost or forgotten.