DigiPulse is an upcoming cryptocurrency platform that aims to make digital inheritance easier than ever before. Find out more about DigiPulse today in our review.
What is DigiPulse?
DigiPulse aims to improve the world of digital inheritance. Today, a growing number of people hold a significant amount of money in digital currencies. Unfortunately, many people die without dedicating digital assets to their loved ones. Others don’t provide adequate instructions on how to access digital assets.
Right now, DigiPulse is in the early stages of development. It’s a proposed project, although technical details of the platform are available online and through the whitepaper. Overall, the goal of DigiPulse is to ensure that digital wallets stored in crypto wallets are passed on or made available to the rightful inheritors in the event of the owner’s death.
The DigiPulse token sale is taking place throughout October and November.
To be clear, DigiPulse doesn’t actually transfer funds to a user after death. Instead, the platform sends information to the user. That information, which can be up to 1GB in size, is stored encrypted on the blockchain until a smart contract executes.
How Does DigiPulse Work?
Cryptocurrencies have a glaring flaw: if, for whatever reason, a user can’t access their cryptocurrency’s storage location, these assets are at risk of going dormant and being lost forever. Obviously, this is both a good and bad thing.
DigiPulse solves this problem by allowing users to store and encrypt information on the decentralized DigiPulse ledger. That ledger also makes the information inheritable. It’s only accessible to certain recipients. There’s no need for the information to pass through an attorney or be subject to human error.
DigiPulse’s business model focuses on two types of users: users who want to remain totally anonymous, and those who don’t. The difference between these two types will determine the way the asset release timestamp resets.
DigiPulse is based on a subscription model per single transaction. Users will pay for their service using DigiPulse tokens (DGPT). Payment in DGPT is only made when the “send out switch” for the smart contract gets reset.
You can earn DGPT tokens by providing storage space to the platform. 50% of DigiPulse’s DGPT will be given to users who provide storage space.
In any case, users sign up for the service by providing the public wallet address and the contact email. Any information the user wishes to pass on will be encrypted with the help of an AES-256 security implementation and stored on the DigiPulse blockchain. The user will use the DigiPulse platform to put information on the blockchain. All types of files can be stored, with a limit of 1GB of storage space.
Smart contracts will have the inactivity period and inheritor access information embedded into them.
Here are some of the unique features of DigiPulse:
Decentralized Core: The DigiPulse core is secured with an added layer on top that allows monitoring through API integrations. DigiPulse describes it as “literally unstoppable.”
Double Encryption: You come up with encryption criteria that encrypt the location of your encrypted files, providing “encryption on top of encryption.”
Trustless Architecture: DigiPulse uses smart contracts to create something called the Smart Vault. Nobody but you can access the Smart Vault.
The DigiPulse Token Sale
The DigiPulse token pre-sale (which was closed) took place from September 28 to October 1. The main token sale is scheduled for October 1 to October 31, 2017.
There’s a total of 12.7 million tokens available during the pre-sale and the crowdsale. The tokens are set at a price of 0.004 ETH per token under the token ticker DGPT. There’s a minimum purchase of 0.5 ETH (125 tokens plus bonus tokens) and a maximum purchase of 2 million tokens.
DigiPulse has set a minimum cap of 500 ETH and a maximum cap of 44,650 ETH.
Who’s Behind DigiPulse?
DigiPulse is led by a Latvian company called Apnika LLC, which launched DigiPulse in 2016. The concept came from co-founder Dmitry Dementyev-Dedelis, who previously gained experience while working as CTO at Funderful. He worked hard for that company for three years and realized his health was at risk. He started wondering what would happen to his digital assets after death – so he created DigiPulse.
Other key members of the team include Normunds Kvilis (Co-Founder and CEO).
Apnika is based in Riga.
DigiPulse doesn’t transfer your cryptocurrencies after death: the company just uses the blockchain to transfer information to a selected recipient after death. A pre-chosen “time of inactivity” is recorded into the DigiPulse smart contract. After that time has passed, the smart contract will assume you’re dead, and the smart contract will execute. Until the smart contract is executed, your data is protected with two layers of encryption on the DigiPulse platform.
To learn more about DigiPulse and how it could change the way we deal with digital assets after death, visit online today at DigiPulse.io.