Solution to digital asset inheritance
One of the benefits we get from centralized banking systems is the fact that funds can easily be moved or passed to whoever is related to us when we die through a lawyer in charge of your will.
If for example, Mr. XYZ dies, his family member can easily go to the bank and provide proofs to the bank that they are related to this Mr. XYZ and after several checks and confirmations, the family could have access to the funds of dead Mr. XYZ.
With the rise and adoption of cryptocurrency and Blockchain technology, many amateur investors are moving their fiat into several cryptocurrencies and this is creating less job for lawyers (when it comes to handly money transfer issues) and bankers.
The danger with this is that most of these cryptocurrencies don't use unique addresses like we have here on Steem Blockchain where you can send funds to a unique address like @samstickkz instead of addresses seen on Ethereum and Bitcoin Blockchain. The benefits of unique address are the fact that one can easily track and know how much Mr. XYZ has, but and what if he dies? What will happen to his funds we can see?
Well, the only way his family can have access to his funds is if they have access to his master key.
But what if there was a smart contract where all his keys can be kept and beneficiaries to these keys added to have access to his funds if and only if Mr. XYZ dies?
Well, I've been searching for solutions like this and I came across several but today I will be talking about safehaven.io
what is safehaven.io
safehaven.io claims to be the solution to digital inheritance built on a Blockchain. With this tech, you can have complete access to your funds with the assurance that your loved ones will have access to them when the time comes.
The seeds and private keys to your funds will be shared amongst to your appointed stakeholders and your children (if you have) in a transparent and secure way with you the initiator having full control as long as you're still around.
Roadmap:
Whitepaper: https://safehaven.io/files/SafeHaven_WhitePaper.pdf
What do you think about this solution to Blockchain asset inheritance solution and do you have or know any other company offering similar solution?
STEEM ON
Funny enough, i was just thinking about this in the morning.
I was trying to crack brain on hpw such thing would work and how the death of someone could be confirmed. Thank goodness for this
I believe there should be other people working on this kinda project too, I'm just trying to fish the best one out
okay that is comforting. I believe you will inform steemit uyo whenever a good news arrives from this. By the way, its not like i'm planning to die oo LOL
Lol why are you not planning?
hahaha i refuse to answer this question. I smell temptation
Honestly , when I first got on to steemit, the first fear I had was what if my master key is lost, or what if something happens and how about a bank for master key.
I'm still new in this but I see how emphasized steemit has been on keeping my password safe and storing in a place that it can be accessible to me alone.
Although I don't hope to die yet, safe haven gives me reassurance that all is not lost in the case of eventuality.
I don't know any other company offering such services tho, but thank you for enlightening us on safehaven.
Big welcome to Steemit @tranquilicious, do well to ask questions when you have any
Weldone
Thank you aunty @meemee
This is a good solution
Thank you @atikajayboy, how are you doing?
I'm good bro