Hedera and Algorand Blockchains Collaborate to Build DeRec Alliance for Assets Recovery

The introduction of DeRec aims to unite the Web3 ecosystem and establish new industry standards, ensuring a painless and secure process for digital asset recovery across various wallets. 
Hedera and Algorand blockchains have joined forces to establish a groundbreaking protocol known as the DeRec Alliance. This new interoperability recovery standard is set to enhance the recovery and adoption of cryptocurrencies and other digital assets.
According to an official press release on January 11, the DeRec Alliance was introduced as a collaborative venture involving various entities in the Hedera and Algorand ecosystems.
Key contributors include the HBAR Foundation, Algorand Foundation, the Hashgraph Association, Swirlds Labs, the DLT Science Foundation, and esteemed industry partners such as The Building Blocks and BankSocial.

Hedera and Algorand Blockchains Collaborate to Build DeRec Alliance for Assets Recovery