Suppose a man or a woman converted most of their wealth into cryptocurrencies. Now, they want to create a legal document to distribute their digital assets to their family members.
If the owner expires due to an accident or a sudden illness, can the family members get their crypto share?
If a person expires without sharing the private keys to his family members, the crypto assets are lost forever.
This is an end result of the private key-loss conundrum of blockchain.
The answer to the following main questions need to be found out.
- How to distribute crypto assets in the most efficient and secure way?
- Can a legal document ensure that the family members get the right share of the digital assets they are entitled to?
- Can the crypto community setup a guidelines on crypto assets inheritance planning?
There are many books that tried to answer these questions.
Could there be any technological innovation in the computational protocols of cryptocurrencies that can solve this conundrum?
I often think about it.
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Cross-reference
"Blockchain's Private Key-Loss Conundrum,"
https://www.publish0x.com/techfuture/blockchains-private-key-loss-conundrum-xdgdedo
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Cheers! Debesh Choudhury
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