Depending on your belief system, death is either the endgame or the next level. Whatever lies on the other side, your bitcoins are no good there. Just as we entered this world with nothing, we are destined to leave it with nothing. All those years spent stacking sats needn’t be in vain, however. New and improved tools have made it easier to bequeath your crypto to your next of kin.
Digital Inheritance Demands Modern Solutions
According to John Milton, “Death is the golden key that opens the palace of eternity.” That may be, but that key won’t unlock your crypto wallet when you’re gone. It’s a task that calls for a private key – a 256-bit number that enables your coins to be spent. You could just hand a copy of this key to your next of kin, or leave it in a safe deposit box with strict instructions for the executor of your estate, but to do so would be to place your trust in the goodwill and competence of others. Safe deposit boxes aren’t safe at all, while family can’t necessarily be relied on to resist touching your tokens until the appointed time.
The solution, for a growing number of cryptocurrency users, has been to utilize purpose-built digital inheritance software that promises to automate the process on your behalf. TrustVerse is a protocol for handling digital assets, including the management and ownership of digital identities. Pluto is its legacy planning service for cryptocurrency owners. After selecting an inheritance design that dictates the conditions under which the assets can be bequeathed, a smart contract is set up to administer the process.