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New Partnership Forms to Create Decentralized Recovery System for Crypto Assets

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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