Ever wondered what will happen to your digital assets and cryptocurrency after you pass away? Now there is a solution ensuring that your valuables remain safe – and land into the right hands.
The Baltic startup Digipulse announced on Monday it has launched the world’s first digital asset vault that ensures safe, encrypted and decentralised storage and transfer of crypto wallets and other digital assets. Digipulse can be used as a digital safe, a password keeper or even as a new age testament platform to ensure who inherits your digital valuables, with no third party involvement.
Although cryptocurrencies are rapidly gaining global momentum, they are still high-risk assets when it comes to safeguarding and transferring ownership.
It has been estimated that almost 4 million, or 23% of all bitcoins have been lost already. If a crypto owner passes away or loses access to their digital wallet, all of their crypto assets will remain forever inaccessible.
The same is true not just for cryptocurrencies but other digital assets as well- legal documents, photos, digital identities and other media can become equally inaccessible to family and friends, or even to the owners themselves, due to hardware damage, software malfunction or plain human error.
Digipulse, a digital and crypto asset management platform, is a solution to this issue. The Digipulse smart vault can be used to store any type of files – documents, images, passwords and even cryptocurrency wallet keys – that will automatically be transferred to the recipients of a user’s choice, using online activity as a trigger. The user can proactively choose which digital assets to upload to the decentralised vault, as well as when and to whom the assets will be transferred to once the user activity drop is confirmed.
Digipulse CEO Normunds ‘Norm’ Kvilis “In an increasingly digitized world, the global inheritance framework has been struggling to provide a modern solution to the growing issues of digital asset inheritance. In the absence of sustainable technology, even a testament will not ensure that a person’s assets are passed on to their rightful recipients. Digipulse aims to disrupt the stagnant industry with a management tool that enables all digital and crypto asset holders to have ultimate control over who will receive their digital assets. No third parties or middlemen involved.”
Digipulse’s Head of Business Development J?nis Zalt?ns adds: “We see an increasing trend amongst tech giants like Microsoft, Google, Facebook and Twitter towards developing tools for managing their inactive accounts. However, each service can only operate within their own platforms. Digipulse’s B2B ‘Pulse Network’ aims to provide a unified service for enterprises and user bases of all sizes.”
Digipulse was created as a solution to a real problem – the company’s Co-founder and CTO Dmitry Dementyev-Dedelis first thought of the idea after encountering health issues and realizing that, if he were to pass away, his family would be unable to access his digital assets, including his crypto. Dmitry started Digipulse together with his childhood friend, investment analyst and now CEO Normunds Kvilis in 2017.
The startup raised the initial investment of 1 million with a successful Token Sale in the autumn of 2017.