‘Security while you’re alive, accessibility when you’re gone’
Recently Bitcoin has been on a roll, breaking various barriers in its process to consecutive all time highs, with the total market cap even exceeding the $3 trillion mark. The Lightning Network reached a record number of 3215 BTC and the amount of addresses holding ≥0.01 BTC also set a new all time high of 9.182.812, both just a few days ago. Furthermore, the world currently households 78.85 million Blockchain wallet users, which is 2.5-, 16- and 2000 times as much as November 2018 [31.31 million], November 2015 [4.95 million] and November 2012 [0,04 million], respectively, underlining its extremely rapid growth.
With the immense transfer of wealth that will take place, the right tools are necessary to provide a certain balance between accessibility and safety of digital assets. In other words, ‘keep your crypto secure, yet accessible’, as mentioned in a Bloomberg article that was published last week, titled ‘what happens to your crypto if you die’. Crucial, as just 26% knows the answer, judging by the respondents on Lawsociety. Demographically this isn’t suprising, as 58% of the Bitcoin holders are <34 years of age and people aged 18–34, 35–44 and 45–54 are most likely to purchase bitcoin in the upcoming years, with a steep decline in the subsequent age groups. However, the consequences of a lack of planning has significant risks, especially considering that the leading cause of death in the first half of ones life, are injury and violence. This type of tragedy usually doesn’t allow last-minute planning, while these age groups are most likely to have purchased digital assets.
The risk is real and Glassnode estimated that ~3 million Bitcoin is lost forever, as of December 2020. Sunk into oblivion, for a variety of reasons, with death being one of them. Awareness is of importance and as correctly mentioned in an article by Dworken & Bernstein lawfirm, ‘A person could have millions in Bitcoin when they die unexpectedly, but if their loved ones don’t know it exists or how to access it, it will languish in cyberspace’. While such articles raise awareness, expanding on the current possibilities remains key.
A decentralized option that comes to mind and is offered by a group of pioneers in the Blockchain sphere, is Inheriti by Safe Haven. Inheriti is their flagship product that has been in the works since 2017, embodying a decentralized inheritance solution that received the ‘intention to grant a patent’ status on 18.10.2021 within the European patent register. A process that started back in 2018 for the EU, US & CHN region, because fundamentals matter in the long run. It shows, as they’ve been featured in a recent YouTube video by Ledger, which provides solid information in just under 1.5 minutes and might therefore be a great place to start.
It’s of importance to give this topic some thought. Make a conscious decision that (1) makes your assets feel safe and (2) in case unfortunate strikes, provides accessibility for those around you. If that’s through Safe Haven, great. If it’s via another way, also great. Vital, because as cruel as it may sound, the common nature of tragedy within the most common age group holding digital assets, might not allow last-minute planning, freezing your digital assets forever as a result. As Satoshi Nakamoto mentioned back in 2010: ‘Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone’. Don’t let this happen to you, tho. Be proactive in your approach.
Digital Inheritance by Safe Haven
Safe Haven hatched from the egg in 2017, witnessing the first shades of sunlight on Ethereum and shortly thereafter finding its way to VeChain. They have been silently building multiple products in various domains within the Blockchain sphere, but are mainly known for their flagship inheritance solution [Inheriti]. Providing the community every Friday with the famous Flash Friday updates, for over 1.5 years already. Therefore, many had the opportunity to closely watch Inheriti, the first decentralized inheritance platform in the world that was deployed on the VeChainThor blockchain in the fall of 2020, unfold.
The Safe Haven team have been covering all their bases since the beginning and as mentioned in the introduction, the European patent process shows promising developments, considering its status changed to ‘intention to grant patent’. Jûrgen Schouppe, founding director of Safe Haven, tweeted the following on October 20, 2021:
“Received news validating every effort for the last 4yrs. Accomplished something that solidifies our place as a legitimate organization & potential powerhouse in the blockchain inheritance/backup market. More will come on this, but I am incredibly proud”
Their solution, Inheriti, ensures that private keys and information can safely and securely be passed to loved ones in the event of death by leveraging decentralized blockchain and various fail-safe mechanisms. Ongoing independent audits are of key value, as a small leak could sink a great ship. Red4Sec, a company specialized in cybersecurity, verified in late 2020 that ‘the platform does not currently store private keys, seeds or passphrases in the backend, in fact the operations with these are carried out on the client side’ [link to the Privacy Audit Certificate].
Inheriti’s current available edition, the Community Edition, provides the possibility to make your personal wallet inheritable via Decentralized Inheritance. SafeKey, a FIDO2 U2F device developed by SafeTech, plays an integral part and is the only key compatible with Safe Haven’s decentralized inheritance solution. Ease of use of the platform has been demonstrated by Vintoshi on YouTube in this excellent video.
Future features of Inheriti will include:
- Inheriti Vault: a cloud alternative for SafeKey
- Inheriti Mobile: a Mobile Share Solution
- Inheriti Standard Edition: focused on mass adoption, with subscription plans and direct fiat payment solutions, while maintaining SHA token utility
- Inheriti Business Edition: API based, allowing third-party partners to employ Inheriti within their business model
- support of other public blockchains
Other solutions by Safe Haven
Safe Haven goes beyond the scope of Decentralized Inheritance, as they’ve various other solutions, as shown in this YouTube video. Furthermore, another huge milestone will be the release of SafeSwap, developed and powered by Safe Haven. Safe Haven’s atomic swap protocol will enable users to perform atomic swaps between chains, which is the first of its kind for the VeChain ecosystem. Zero liquidity trading, easy-to-use interface, real-time token swaps & 24/7 unlimited trustless access. Supported chains for swap: VET, BNB, MATIC & ETH. A huge addition for the VeChain ecosystem and as the VeChain Foundation mentioned on twitter:
Tom Ambrosia, Chief of Employee Operations & Growth at Safe Haven, in a recent tweet:
The launch of the SafeSwap website is on the horizon and 43 betatesters have been selected at the time of writing, with still 57 spots left. This tweet offers more information on how to get a spot, in case you’re interested in testing an upcoming milestone for the VeChain ecosystem!
- VeChain: VeChainThor acts as the native blockchain for all Safe Haven solutions. More information on why VeChain was chosen for this purpose
- Vpunks: Vpunks is the #1 NFT project developed on VeChainthor and this partnership will focus on integrating Inheriti. Partnership announcement can be found here. The following Tweet of last Friday gives an update on its remarkable progress:
Semi-integration of #Inheriti has been mapped, configured, and installed within the backend of databases; the @SafeHavenio #TechTeam tested webhooks, cookie, and #SafeID parameters of integration. @vpunksofficial will begin testing the functionality of integration on Monday!
- Polygon: Polygon will be the first fully compatible Ethereum scalability solution utilized by Safe Haven in their blockchain agnostic approach [announcement link]
- Intigriti: Intigriti is Europe’s #1 ethical hacking and bug bounty platform and currently maintains an open bug bounty program on Inheriti, ensuring continuous review and public audit [link for more information]
- Among others [link to all partners]
Safe Haven also has a node system and information can be accessed on their website. To obtain a node, the following requirements needs to be met:
- SHA tokens: varying from 1 million for a Connect node up to 30 million for a Legacy node
- VeChainThor mobile wallet
- SafeNode app: this mobile application is used to bind your wallet, set up a node, stake SHA and claim rewards. It is not (!) a wallet. This Medium article provides more information on how to bind your wallet in the SafeNode app.
One of the earliest- and most dedicated community members and head of the Community Governance Model [together with David], Jeremy, has been summarizing all the node statistics since the beginning of time. Every Wednesday he provides updates on total amount of nodes, % node share when utility rewards kick in, amount of SHA on exchange wallets and non-exchange wallets in the Official Telegram group. As shown below, the amount of wallets have doubles between August 2020 and August 2021, maintaining an upwards trend ever since.
As a frame of reference: the current amount of wallets holding SHA  is equal to 1.08% of the amount of wallets that contain ≥1 VET [539.564], as shown by the richlist on VeChainstats. Furthermore, Safe Haven currently has 757 node holders.
The SHA token & Exchanges
The Safe Haven [SHA] token is a VIP-180 token on the VeChainThor blockchain and is an integral component of the Safe Haven ecosystem, serving a purpose in every solution made by Safe Haven. More information on this subject can be found here.
SHA is currently trading at $0,0064 and ranked #817 by market cap and therefor still hidden in the depths of Coingecko.
Its available on various exchanges, with the KuCoin trading pairs [SHA/BTC, SHA/USDT] being responsible for ~95% of all trading volume.
October 2021 & Roadmap
October has proven to be a very solid month again:
- update on the European patent status, i.e. ‘intention to grant patent’ [EPO link]
- SafeSwap smart contracts have entered the polishing phase and all technically challenging criteria has been scripted [link]
- multiple betatesters have been selected to test the SafeSwap platform, with still some spots left [link]
- Inheriti was featured in a YouTube video by Ledger [link]
- Safe Haven review by The Clever Millionaire on YouTube [55,4k subs, link]
- partnership with Vpunks, the #1 NFT project developed on VeChainthor, focused on integrating Inheriti [link]
- a roadmap for Q4 and 2022 was released, as shown below
- various TwitterSpaces hosted by Nebula [Tyler, D., Head of Community Growth and NFT Partnership Development]
- Nebula was featured on the BuyThedipshits podcast [Spotify link]
- release of #5 of the Inheriti Deep Dive Series on YouTube [link]
- multiple events organized with prizes [Halloween, Vpunk partnership celebration]
- continuous effort by Jeremy in providing everyone with the Weekly node updates in the official Telegram group
- the long lasting streak of Flash Friday updates continued, as the Safe Haven team keeps providing the community with weekly updates on all fronts
- finished another round of monthly staking & September Boost rewards have been distributed
- the Safe Haven CGM keeps its presence on Twitter by sharing various Inheriti-related artworks, check them out! [link]
- reached 5800 wallets with ≥1 SHA, which is a +62% compared to the start of 2021
- while the Altrank on Lunarcrush obviously is very fluctuating, we had some very solid days, among which is the #12/3155 on the Altrank [link]
- great outreach by many dedicated community members on the channels [Twitter, Telegram, etc.], like this amazing piece by VeChainWAVE and this + this amazing artwork by CryptoSVET on Twitter
- among others!
Interested in pioneering within a space that is one of the most promising technological inventions in recent times? Safe Haven is hiring full stack developers!
A link to the Safe Haven website is provided below. In addition, it certainly can’t hurt to follow the Safe Haven Twitter account and CGM twitter account. The Official Telegram group households an incredible solid group of community members, members of the Community Governance Model [+ Lite], as well as team members, providing an excellent home to dialogue.
This article was originally posted by Grumpy TurtleBack to news