When Tragedy Strikes

Most financial experts say that we are currently witnessing the greatest transfer of wealth in history, between Fiat currency and cryptocurrency. People have been flocking to buy Bitcoin and altcoins, often withdrawing money from their savings accounts to do so but most of them don’t think about the “What Ifs”. Yes, I am talking about tragedy, loss of life and what happens to crypto assets after the owner passes away. Infinitus is here to solve that dilemma.
If Lost Passwords Are A Problem, What Happens When Loss Of Life Occurs?
We talk about forgetting passwords and while that is a major problem, I would say that loss of life is a bigger one. The former is easily solved by Infinitus, but the latter is impossible to solve by anyone and now people are starting to think of ways to transfer their crypto wealth after they pass away. We don’t like to think about that moment, but we have to. After all, you wouldn’t want all your investment to vanish forever in a wallet that nobody has access to.
A quick solution would be to share your private keys with the family, but that poses a few risks. These don’t apply to everyone, but bear with me: say you share your private key with your kids and then a year later, your 16 year old boy asks for a new gaming PC (the expensive kind) and you refuse. But kids are rebels at that age… and he knows your crypto wallet holds quite a nice amount of money. You know the rest… in comes the new gaming PC, out goes some crypto from your wallet.
And what about the wifey? Yes, I know you love her, but here’s a legit concern posted by a crypto user on social media: “I have a substantial amount invested and want to make sure it doesn’t just disappear if I were to pass away unexpectedly. I’m also not wanting to just give my wife my private key in case she ever decides to leave me for the milk man.” Now there’s a guy who thinks about the “What Ifs”!
How Does Infinitus (INF) Help Solve The Issue Of Asset Transfer
Infinitus is a smart designation repository for your private keys and for a multitude of other types of data used to access your crypto wallets. It basically acts as a vault for your crypto wealth but it’s so much more than that because when a predetermined trigger event takes place, it transfers the private key/data to the person you designated. The trigger can be an inactivity period (on the INF dApp or on a social media account of your choice), so if tragedy strikes, the smart contract will detect the inactivity and will start a countdown. When the countdown reaches zero, the private key will be automatically sent to your wife, your kids or whoever you want.
If you want to transfer 50% of your crypto assets to your wife and 50% to your kids, you simply split your crypto between 2 different wallets, set up an Infinitus repository for each of them and you designate the corresponding receivers.
This means that Infinitus acts as your easy to set up smart will and solves the issue of crypto wealth transfer.
The Technical Benefits Behind Infinitus
INF is built on best-in-class blockchain technology applications, with a major focus on user friendliness. The Smart Designation Repository is based on Ethereum smart contract and protected by AES1024 Military Grade Encryption. Your data is encrypted and scattered across a decentralized peer to peer network, thus eliminating single point failure (if one data location is compromised, the overall integrity remains intact).
All this and more is happening behind the scenes, the user will not be bothered with all the tech details and instead will be welcomed by an easy to use dApp that works just like any normal, simple mobile app. This will be the interface between you and the blockchain and also the place where you can key in your private data, set the inactivity period and enter the details of the person that you want to receive the data.
Planning One Step Ahead
We don’t want to think or speak about loss of life but we have to plan for it. If your money is in a bank, your kids, wife and rest of the family will have a legal right of succession, basically you don’t even have to have a will because your possessions will be split between surviving family members according to the laws of the country you live in. If you want to leave a specific percentage to each family member, then you write a will
When it comes to crypto, you cannot hold it in a bank and a will is useless if the persons you want to inherit your crypto don’t have the private keys to your wallet. So you need to plan ahead and Infinitus must be part of that plan. This way you can be assured that your crypto assets are always available to your loved ones in any circumstance.

