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New technologies help to transfer NFT and cryptocurrencies by inheritance

The problem of inheritance of crypto assets has existed since their appearance on the market and has become increasingly relevant over the years.

     The main problem is that the heirs may not know about the testator’s digital assets. And neither  controlling systems, nor a notary, can establish all the assets of a particular person.

     Nowadays, one of the available methods is to store the keys to crypto accounts in a safe deposit box, access to which the heirs receive only after the transfer of the inheritance.

     Recently, the company from Israel  Kirobo announced the development of a platform that allows you to bequeath cryptocurrency and NFT to your loved ones.

     The holder of digital assets will be able to assign up to 8 different addresses to which his funds will be transferred.

     The whole mechanism works on the basis of a smart contract, which contains information about the heirs’ crypto wallets and the amount of asset that each of them should receive.

     It also includes a timer setting. If it is reset, the inheritance mechanism will instantly activate and according to the smart contract, all the conditions fixed in it will begin to be fulfilled. After receiving a notification from the system, the heirs will have to enter a password.

     Every day, digital technologies, rapidly developing, bring more convenience, confidence, stability and financial security into our lives.