Ripple, along with XRPL Labs, has joined the Decentralized Recovery Alliance (DeRec), an industry consortium dedicated to establishing a simplified and standardized system for managing secrets.

This alliance, which includes members such as Algorand and Hedera and their respective ecosystems, aims to develop a tool to enhance accessibility to Web3 by offering open-source management for various types of secrets, including digital assets, passwords, and more.

The DeRec app, conceptualized by Hedera co-founder Leemon Baird and launched in January, simplifies storage and enables information recovery in the event of device loss. Users of the DeRec app can designate helpers to securely store encrypted fragments of their secrets, with plans to introduce Helper-as-a-Service in the future.

This approach ensures that even if some helpers were to collude, they would still be unable to access the stored information, minimizing the risk of compromise. Additionally, the DeRec app serves as an alternative to Ethereum's ERC-4337 smart account standard, offering compatibility with various blockchain networks and the ability to securely manage secrets of any type, onchain or offchain.

Markus Infanger, RippleX Senior Vice President, highlighted the potential of this collaboration to revolutionize user security and adoption across the crypto landscape. As a founding member of DeRec, Ripple joins other notable organizations on the Technical Oversight Committee, contributing to the advancement of this initiative alongside entities such as the Algorand Foundation, Swirlds Labs, and XRPL Labs, among others.