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With the emergence of blockchain-based products as a new asset class, it has become imperative, now more than ever, that these legally recognised assets be duly protected and insure these assets from accidents and force majeure.
Every minute, approximately 108 deaths are recorded. Most of these deaths are unplanned and unprepared for, leaving loved ones bereft. However, there’s a bigger tragedy at play in the crypto community. Currently, a Ripple (XRP) enthusiast with over a billion USD worth of the currency unexpectedly died with no way for his loved ones to claim his vast wealth. And this misfortune is not limited to death alone. An IT specialist turned crypto investor recently revealed that he accidently threw away a hard drive containing the private key to his Bitcoin wallet now worth an estimated $79 million.
There are numerous uncertainties regarding the transfer of assets to the proper benefactor in the event of death or accident. Research has found out that around 0.7% of investors die annually on an average, putting the figure at almost 700,000 deaths every year for every 100 million people in the investor community worldwide.
With the growing interest and adoption of cryptocurrencies, asset holders are beginning to wonder what will happen to their holdings in the event of death or severe disability, what recourse is available to them for their loved ones that wouldn’t compromise the asset security, and who to trust. Blockchain startup Digitrust Corporation has announced the development of a groundbreaking product, Will Token, for the secure transfer of crypto assets to chosen beneficiaries.
When There is a Will…
Will Token is a utility token set to be used for uncomplicated and automated beneficiary assignment services and non-invasive wealth management for cryptocurrencies. Created by Singapore based Digitrust Corporation Pte Ltd, a decentralized organization, the token addresses the uncertainty and fear from security hacks, false claims, ownership manipulation, unauthorized access, and lost transactions that has been crippling the crypto industry
Will Token is the utility token for a fully-fledged, secured crypto testament – the Crypto-Will – with clearly defined instruction on the exchange and transfer of values directly to the wallets of recipients and heirs. The autonomous and automated token enables beneficiaries to receive funds with no after the fulfilment of stated system requirement, authentication and verifications. The token is used for payment of the wealth assignment service and can also be exchanged like any other crypto on the market.
As an official and legally binding document, Crypto‑Will enables users to state how their assets should be transferred after demise and to whom. The detailed document includes clear instructions concerning legal heir, trusted party or parties, beneficiary verification procedure. The protocol automates the transfer of assets directly from exchanges and wallets to the beneficiary through a highly encrypted and secure information channel. Funds are kept in confidential cold storage wallet at all times.
A Cryptographically Secure Future
The Crypto-Will System allows users to assign beneficiaries to their funds, stipulate the conditions for the identification of death or disability, and confirm the existence of claims or file valid ones. The system also enables users to conduct deep and pulse search, and establishing the proof of death through it automated artificial intelligence protocol. These protocols handle the task of transferring assets to beneficiaries without requiring any human agency or intervention.
Willtoken Crowd Sale
Will Token will initiate a public crowdsale for the further development of its platform. The first stage of the crowdsale is already live and has been scheduled to run till 15th July 2018.
Details of Will Token are as follows:
- 1 Willtoken = 0.10 USD
- Tokens available for sale: 250,000,000 (For Both Stage 1 & 2)
- Willtoken Protocol: Ethereum ERC20
- Buy using Cryptocurrency: BTC / ETH
- No Minimum Contribution
Visit the Website: https://willtoken.io/
Read the Whitepaper: https://willtoken.io/WhitePaper.pdf
Watch on YouTube: https://www.youtube.com/channel/UCX9M_NU4fjMD89KuN7nuojA
Meet the Team: https://willtoken.io/#team