Let’s face it: it’s no fun at all to think about death. In fact, most of us try to avoid the concept (and the fate) at all costs. However, there a few significant questions that come up in times like this, all of which require planning for successful resolution.
One of the most complex and disturbing issues to deal with is death. When an event like this happens, people are scrambling for answers, and they are not always prepared to deal with technicalities. In the event of people with digital assets, the ones left behind often have no idea of how to proceed. Safe Haven is a project that aims to alleviate the stress by streamlining the process of digital inheritance.
The project combines the power of the blockchain and Smart Contracts to ensure a smooth transition during a difficult period for businesses or individuals. Safe Haven is also introducing a new solution to account and password management that has multiple use cases.
Although death will never be easy to deal with, Safe Haven offers a way to ease the transition.
Smart Contracts to the Rescue to Assure Digital Inheritance
In particular, passing assets to family members and business continuity are both issues that are solvable based on Smart Contracts and blockchain technology. Implementing a Smart Contract that explicitly handles inheritance can protect assets and ensure that they get to the right parties. This tech eliminates the potential for disputes and is an automatic way to resolve conflicts before they ever happen. With everything “in writing” and the automatic disposition of assets, there’s no need for protracted legal battles to settle a digital “estate.”
This process could be critical for the continuation of a business. Many enterprises these days rely heavily on digital assets. Losing any of them could threaten corporate existence. Safe Haven offers these organizations a way to safeguard continuity in the event of the death of key personnel.
Safeguarding Digital Assets Will Only Become More Crucial
Cryptocurrencies continue to become more popular. Investors will likely end up having dozens to potentially hundreds of different investments, many of which are extremely valuable. Worse, they probably have a labyrinth of wallets, pub keys, and passwords. It’s fair to say that without a central repository for this information, funds could become unrecoverable. Safe Haven will offer a way to ensure that that unfortunate event won’t happen. Instead, a Smart Contract will execute that will put all of the digital assets in the hands of the proper parties.
They will even offer a special “vault” where you can lock up every password and account you have, including Gmail, Facebook, and other crucial social media profiles. For business or even an Internet celebrity, this can be crucial because those accounts represent the worth of their digital efforts. Dealing with an adverse personal crisis and a technical meltdown at the same time is nobody’s ideas of fun. Instead, having a clear plan in mind and a strategy to turn over the digital assets reduces stress and friction.
Safe Haven has taken a unique approach to solving a massive, global problem. This cryptocurrency project has a chance to gain traction, especially in today’s “connected world.”
Safe Haven is currently in the ICO stage of their development. According to their roadmap, they’ll have a working system available and ready for launch in the third quarter of this year. Check out the technical White Paper for more information on the details of how the team will implement the project.