Cardano and Hedera announced their participation in the Digital Asset Registration Alliance (DeRec Alliance). This alliance aims to develop standards for recording and managing digital assets. Participation is seen as a step towards expanding the reliability and applications of blockchain technology.
Alliance’s Objective
DeRec Alliance aims to create industry standards for recording and managing digital assets. These standards will enable more reliable and transparent management of digital assets. The alliance aims to accelerate the adoption of blockchain technology.
Cardano and Hedera’s Contribution
Cardano and Hedera announced their contribution to developing these standards by joining the alliance. Both platforms have made significant innovations in the blockchain field. Their participation could significantly help DeRec Alliance achieve its goals.
Future of the Alliance
The future of the alliance will be shaped by the contributions of its member firms. More reliable and transparent methods for digital asset management are expected to be developed. These developments could help blockchain technology be adopted by a broader audience.
Previous reports indicated that different platforms had developed various standards for digital asset management. These standards were generally designed to meet the specific needs of firms. However, the formation of a comprehensive alliance like DeRec Alliance could allow for the development of standards accepted across the industry. This could make digital assets more reliable and user-friendly.
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