XRP Ledger Set to Welcome World’s First Digital Inheritance Solution - Safe Haven

XRP Ledger Set to Welcome World’s First Digital Inheritance Solution

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In a strategic move, Anodos has partnered with Safe Haven to integrate the SHA token and Inheriti®, the world’s first decentralized data backup and inheritance solution, into the XRP Ledger (XRPL).

The development was recently shared in a tweet by Panos Mekras, co-founder and CFO of Anodos.

Anodos Partner With Safe Haven

The partnership was also announced in a recent press release. According to the announcement, Anodos will issue the SHA IOU on the XRPL, thus allowing crypto enthusiasts to trade SHA tokens on the XRP Ledger’s native decentralized exchange (DEX) and the upcoming automated market maker (AMM).

In addition, Anodos disclosed that it is already developing a one-stop trading and portfolio management platform on the XRPL, dubbed AnodoSwap.

Upon its launch, the Anodos team will list SHA on the platform, while an SHA/XRP liquidity pool will be created to enhance the token’s liquidity.

Notably, the partnership will be in two phases. The first phase will commence in January 2024, when Anodos will issue 10 million SHA tokens on the XRPL network.

Additionally, the second phase of the partnership will commence once the EVM sidechain launches on XRPL. Once EVM sidechain launches on XRPL, the solution will be integrated into Safe Haven’s SafeSwap.

For context, XRPL took a major step towards welcoming EVM sidechain after leading cybersecurity firm Bishop Fox completed an audit of the protocol last month.

World’s First Inheritance Platform Launches on XRPL

Users can conveniently create Inheriti® plans on the XRP Ledger upon successful integration by paying with SHA tokens via their Xumm wallet.

Inheriti® is a digital inheritance solution that provides advanced security in transferring access to digital assets, social media accounts, non-fungible tokens (NFTs), and digital data.

The solution, which launched on the VeChain mainnet in September 2020, encrypts and stores users’ data in a 3-layer topology, including blockchain and cold storage. Inheriti® serves as a bridge between the traditional and digital data inheritance markets.

Inheriti® can be used by anyone, irrespective of their technical knowledge. Once users enter their secret data, Inheriti® swings into action, splitting it into unreadable, secret, and encrypted shares.

It then distributes the encrypted pieces of inheritance data to different cold storage devices. The safe key holder will be required to put together the various shares into Inheriti® to decrypt the data. Users can create a lifetime Inheriti® plan for the price of 10,000 SHA worth $5.12 at press time.

This article was originally posted by The Crypto Basic

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