Safe Haven In A New Partnership With VeChain In A Bid To Provide Digitalized Legacies
Safe Haven is set to start a new collaboration with VeChain to provide digitalized inheritances, asset distribution, and asset control services. The Singapore based firm further hopes to build a legacy system based on the upcoming VeChain Thor blockchain. This announcement comes a few days after the firm closed its private sale and testnet launch. This might just be the right news for investors to invest in the firm during the upcoming ICO.
VeChain was pleased to welcome the partnership with the legacy-based firm noting that Safe Haven technology, background, and network provides a true value addition to their business. The partnership according to the VeChain team will allow users to access an array of necessary solutions for the growth of the two partners.
Services Offered By Safe Haven
Safe Haven is a Singapore based blockchain enabled platform that allows the loved ones of a digital legacy owner to access the legacy once the owner is gone. Safe Haven provides solutions to safeguard digital assets and cryptocurrencies against unforeseeable losses. The platform has four distinct products including The Family Circle Plan (TFC), The Business Continuity Plan (BCP), the Investment circles, and the Safe Haven Fault.
The platform distributes passwords, private keys, and bank account details to provided third parties for inheritance in accordance with the smart contracts set out by an individual in the Family Circle Plan. The firm will in the near future target other digital assets such as bank accounts, different passphrases, and social media accounts.
The platform Business Continuity Plan allows corporates to distribute ownership and authority by use of smart contracts. The platform’s investment circle provides a means by which grouped funds can operate on their own using laid down terms and procedures. The state haven fault will allow users to organize their digital assets on the blockchain and allow them to set up distribution parameters.
The technology used by Safe Haven survives on the patented Trust Alliance Network (TAN) that allows legal entities to provide assurance, guidance, and services for those who are part of the Safe Haven platform.
Last month, the distribution protocol was being tested on the Ropsten network. However, it seems that Safe Haven does have other protections plans in place. The technology alpha release will go live after the mainnet of the VeChain Thor Blockchain.
According to the developers of Safe Haven, they planned to launch their project on the Ethereum network when it was first developed in December 2017. However, the team soon discovered that the VeChain network was the best for the building of a long-term solution in line with the goals of Safe Haven.
VeChain is the 17th biggest cryptocurrency by market capitalization. Its new partnership with Safe Haven comes a few weeks after another partnership with BMW. In addition to being adopted by the legacy and automobile systems, VeChain has also been adopted in the cold chain logistics, medical and healthcare systems, and luxury and enterprise systems. The VeChain Thor blockchain will support smart contracts. The blockchain will also have Know Your Customer (KYC) features and governance properties such as voting.