Key players in the Hedera and Algorand ecosystems, including the HBAR Foundation and the Algorand Foundation, announced on January 11th the formation of a new partnership called the DeRec Alliance, with the goal of creating a decentralized recovery system for crypto assets. The partnership was revealed during a joint panel at the CFC St. Moritz conference by Hedera’s co-founder Dr. Leemon Baird and Algorand Foundation’s CTO John Woods. According to two DeFi executives, the DeRec Alliance aims to facilitate the process of securing and recovering crypto assets in a way that is compatible with traditional Web2 experiences.
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