Serenity Shield launches First Non-Custodial Private Key Inheritance System
Serenity Shield, an innovative startup focused on providing real solutions to real issues around wealth management in the blockchain sector, has announced a novel non-custodial seed recovery solution aimed at helping crypto users manage their money with regard to inheritance plans.
Serenity Shield’s Digital Asset Legacy offers a non-custodial seed recovery solution that can help family members access any crypto inheritance left for them in case of an investor’s sudden death. Losing private keys permanently locks any crypto holdings away’
As a non-custodial product, Digital Assets Legacy provides for a secure mechanism through which an individual can nominate heirs.
This way, long-term crypto holders can safely pass down their wallets, proving for further adoption of digital assets as the world moves towards Web3.
Rodolphe Seynat, the co-founder of Serenity Shield had this to say about the product:
“Serenity Shield solves a real problem deriving from mass adoption of crypto: how do you maintain the same flexibility of Web 2.0 while remaining non-custodial? With Web 2.0, it’s rare to completely lose access to your accounts, and we need to bring that same experience to Web 3.0 if we want to reach 1 billion crypto users in the next few months or years.”
How does Digital Asset Legacy work?
Serenity has designed a system that spits a user’s seed phrase into three non-transferable NFTs. This happens via the startup’s StrongBox, with each part containing one-third of the recovery seed.
The wallet holder takes one NFT, another goes to the nominated heir, while the third remains in the hands of Serenity Wallet.
The wallet runs a smart contract, which when triggered, executes by delivering its third of the key to either the original user or the heir. The actions can only execute according to the Activation Conditions initial parameters in the StrongBox.
Where can you access Serenity?
The Digital Asset Legacy is accessible on the Secret Network, a blockchain platform designed to provide for private data storage. A private blockchain allows for private key recovery in a fully non-custodial environment.
Furthermore, Serenity Shield caters to all types of users within the crypto space, with supported features combining “the simplicity and flexibility of traditional Web2 authentication.” However, the technology offers more than just ease of use as its services are fully non-custodial.
Serenity Shield has planned a $4 million public sale of its SERSH token, ostensibly by June 2022. Thereafter, it is expected the mainnet launch will be in Q3 2022.