Fusion Foundation announces the formation of the DCRM Alliance to oversee a new decentralized custody solution

The Fusion Foundation has announced the formation of the DCRM (Decentralized Control Rights Management) Alliance, a group of decentralized finance (DeFi) and Fintech projects tasked with running nodes to support Fusion’s decentralized, cross-network custody solution. Crypto issuance platform Realio, token swap provider Totle, blockchain network Fantom, and the Karlsruhe Institute of Technology joined the Fusion Foundation, the organization behind the Fusion protocol, as the inaugural members of the alliance. The newly formed group also ran an early pilot of the decentralized custody solution, dubbed DCRM 5.0, on a testnet.

Why it matters:

• Interoperability exploration continues to grow in relevance. Numerous blockchain projects, such as Syscoin and now Nervos Network, are crafting cross-network solutions to (1) break down data silos and (2) generate platform activity by connecting to chains with higher levels of adoption.
• Fusion mentions institutional demand for MPC (multi-party computation) solutions, akin to its DCRM product, could be on the rise. It cites the funding raised by MPC-focused companies Fireblocks ($16 million) and Curv ($6.5 million) in 2019 as potential catalysts for this type of service.