On the 17th of June this year, the VeChain foundation announced that the Safe Heaven platform would be making a move onto the VeChainThor Blockchain. The Safe Haven platform was established as a platform that provides adequate solutions to the issue of digital inheritance. With this move taking place, both companies are aiming at creating a powerful solution and even access to the various impactful business and the development of resources.
About Safe Haven
The well implemented VeChainThor platform will power the Safe Haven platform. The company has been working on providing solutions for asset distribution, inheritance and even the concept is asset control to the world. It is a platform that has been building cutting edge security within the company and also have continuity solution for the various markets that exists.
All this has been done possible with the combination of legal entities into their decentralized solution for the inheritance of bank accounts, passphrases, cryptocurrency and even social media accounts.
VeChain company states that after they did a review of the platform, the technology put in place, network and even the background of the company, they see this will be real value added to their company. The partnership seems it will benefit both companies as it will allow easy user access to multiple solutions that will enable continuity.
What Exactly Is Digital Inheritance?
Digital inheritance has been defined as the process in which digital assets and rights are handed over to the beneficiary. The process is getting to know the kind of digital assets that are available and the rights that exist, and finding the best ways to deal with them once an individual has died.
The Safe Haven platform comes into play as it can provide the needed solutions for digital inheritance, and with the partnership with VeChainThor blockchain technology, this will be much smoother and easier for all. But this is not all as the company will also continue to work with one of its best patented Trust Alliance Network, referred to as TAN, in providing the needed legal advice and service that exists for the crypto asset owners.
The Safe Haven company sees a time when all digital asset owners will be in a position to easily create various methods that will help in the distribution of their digital inheritance and also any business continuity plans they might have for their partners or family members.
How Does It All Work?
The initiator, this is the investor who would like to protect his legacy, can share the seeds and also private keys with multiple shareholders that they define. All this can be done by approaching a member of the TAN. The validator, who is the member of the TAN, will adequately handle the distribution of the current shares as the initiator has defined it with the use of a smart contract.
Now, depending on the provisions that exist on the smart contract, a group or just an individual will need to present the necessary shares, which is an encrypted piece of data that will help in unlocking the current assets. What this means is, the initiator will maintain 100% of the assets for as long as they are alive.
The Safe Haven company has also gone ahead to provide a number of products that people could purchase.
- The Family Circle Plan referred to as TFC. This is for those individuals who want the defined members of their current inheritance to access their assets on the day they pass easily.
- A business continuity plan, it is similar to the first product, but this deals with stakeholders rather than their family members.
- The investment circle was created or the individuals who are creating and also managing funds amongst their friends, business stakeholders, and even family members.
- The Safe Haven Vault was created to protect the digital assets acquired on the blockchain.
- And the 100% Safe Haven open source hardware ledger.