Ripple and XRP Labs have joined Swirlds Labs, developer of the blockchain network Hedera, and the Algorand Foundation to become members of the Decentralized Recovery (DeRec) Alliance. 

Other DeRec Alliance members include Acoer, BankSocial, Blade Labs, The Building Blocks, Casper Association, Constellation Network, The Hashgraph Association, The HBAR Foundation and Revive Labs, according to a release shared with The Block. 

The DeRec Alliance was founded by Hedera co-founder Leemon Baird to provide an open-source process expediting digital asset recovery. Members collaborate on developing a new interoperability recovery standard applicable to a wide swathe of users, especially those without crypto expertise. 

"In this digital age, users need a safety net for when they …