Safe Haven [SHA] Explained: The Solution to Digital Inheritance
Safe Haven [SHA] is a new blockchain project that is looking to solve problems with digital asset inheritance. Since digital assets are a relatively new creation, there is not currently an effective means to setup digital asset inheritance.
“As a father, my biggest question is, if something happened to me tomorrow, how could I ensure that my wife and children have access to my funds?” said Safe Haven co-founder, Logino Dujardin in a Forbes interview.
Safe Haven is working to create cryptoasset inheritance solutions for individuals as well as businesses. Their aim is to provide solutions for the transfer of cryptoassets between a trusted circle of individuals in the case of a catastrophe.
One of the biggest problems with cryptoassets in keeping them secure. The problem is that in the process of insuring the safety of cryptoassets, the accessibility of the assets is often limited to one individual owner. If the owner of those assets is for some reason (ex. death or illness) not able to access those assets, they may be lost forever. This is why a procedure needs to be set up in advance to allow the safe transfer of those assets to the rightful heir.
To do this, Safe Haven is working to “provide the ability to encrypt distributed shares to data and assets that still allow the user to have complete access until predetermined conditions are met such as death, illness, or missing.”
An example of how distributed shares will work is Safe Haven’s ‘Family Circle.’ In the ‘Family Circle’ information needed to access the person who is passing on their digital assets is divided amongst his or her family, friends, and stakeholders. The digital assets are not accessible until the share of a validator allows their shares to be accessed.
Another solution Safe Haven is creating is their patented Trust Alliance Network (TAN). TAN is the “world’s first legal reference for distributed ledger/blockchain applications, users, and companies.” It will be a hub to find out about legal news, current laws, as well as connect with lawyers that specialize in blockchain legalities.
Currently, Safe Haven is running a private sale on request. ICO news as well as a roadmap will be released in the near future.
One major recent announcement is that Safe Haven will be partnering with VeChain and will be on the VeChainThor Blockchain. According to a Medium article, Safe Haven is “preparing their alpha release to go live after the mainnet of the VeChainThor Blockchain.”