- Digital assets inheritance is a problem that goes on with crypto owners which now Kirobo is trying to work on.
- The Israeli crypto software provider is enabling crypto investors with a chance to pass private keys or transfer funds according to their last will.
- This latest solution by Kirobo provides the generation and execution of an automated last will without the requirement of lawyers, third parties, etc.
The topic of Cryptocurrency inheritance is constantly emerging and evolving as the Decentralised Finance (DeFi) space continues to come up with various ways to create crypto will.
Kirobo, the Israeli crypto software provider is trying to fill a void in the DeFi sphere by enabling the crypto investors with a chance to pass private keys or transfer funds according to their last will.
The company highlighted the unboxing of an inheritance feature on its decentralized crypto wallet Liquid Vault very recently. It would facilitate users to designate crypto wallets to inherit their funds. Basically, they have a goal to decentralize the inheritance of digital assets and NFTs.
This latest solution by the company provides the generation and execution of an automated last will while eliminating the requirement of lawyers, government authorities, or any other centralized intermediary.
In Fact, users are only required to choose up to eight beneficiaries and choose a date for distributing the assets to the designated wallets.
Liquid Vault’s new inheritance mechanism is derived from Kirobo’s unique future conditional transactions technology, like the wallet’s backup feature. The tool provides the users to make future transactions or get a secondary access point to crypto-based on several conditions.
Liquid Vault Wallet was launched in Beta in the year 2021, it supports Ethereum (ETH) and all ERC-20 tokens, Wrapped Bitcoin (WBTC), along with ERC-721 Non-Fungible Tokens (NFTs).
The inheritance tool supports ETH and ERC-20 tokens but Kirobo is also thinking of adding support for inheritance of NFTs with future updates.
Digital assets inheritance is a problem that goes on with crypto owners because the crowned cryptocurrency Bitcoin (BTC) does not allow anyone except the owners to control their assets by design. Let’s see if this step by Kirobo succeeds in eliminating the issue and would it actually eliminates centralisation from the inheritance of NFTs and digital assets.
Source: https://www.thecoinrepublic.com/2022/06/01/defi-crypto-wallet-focuses-on-decentralising-inheritance-of-nfts-and-crypto/