Custodian
What happens to your wealth if something happens to you?
13 followers
What happens to your wealth if something happens to you?
13 followers
Custodian is a digital will & inheritance management platform that helps you protect what you've built today, so your loved ones can inherit it tomorrow. Custodian is like a digital safety deposit box for storing access details and information about your most important assets for transfer to your loved ones and beneficiaries if something happens to you. Could be savings & investment account details, insurance, cryptocurrency wallet seed phrases, social media account passwords etc.
@izypro Well done on the launch. I gave Custodian an upvote because you've taken on a topic most people avoid until it's too late, and I appreciate the privacy first approach. The distributed key model is an interesting design choice. How do you recover access if one or more custodians lose their key?
@spotch_founder Thank you for the upvote!🥳
We're all about privacy and security which was a major factor in the decision to go with the distributed key approach.
To answer your question, we encourage having more custodians than necessary, that way if one or 2 custodians lose their key, the transfer process still works.
For example if you have 4 custodians and set the minimum required number to 2, even if 2 custodians lose their keys, the other 2 can still execute the process.
You can check out the Privacy & Security section of our FAQ (https://custodian.izypro.xyz/support) for more information and if you have any other questions, I'm happy to answer them.
Adding a timed "dead man's switch" feature would be really helpful, where if you don't check in periodically it automatically notifies your beneficiaries and shares the relevant access details. That way nobody has to wait for someone else to realize something happened, and it removes the awkward step of relying on another person to act first.
@kezibancbt4 I see your point and it's very understandable😄
However, for your privacy and security, we do not have access to your asset details which is why we cannot automatically share them with your beneficiaries.
Your asset details are stored in an encrypted format and there are only 2 ways to decrypt them:
1. The secret key which is available to just you. No one else.
2. A combination of the required number of custodian keys
That is why your custodians need to execute the process by providing their keys. The system is then able to facilitate the decryption process and send the details directly to the individual beneficiaries.
I am happy to expand on that or answer any other questions you might have. Just let me know.