- Users can now safely transfer Bitcoin to their loved ones using multi-sig technology in a controlled manner.
- Estate lawyers are unlikely to lose the private keys as it is their job to keep property documents and data safe.
The days when loved ones died with their secretly bought or secured Bitcoin are coming to a happy end with a new inheritance service from a startup referred to as Casa Covenant. This new protocol gives the users of Bitcoin the ability to pass on their Bitcoin holdings via estate lawyers.
The purpose of the service is to provide a viable answer “to what happens to your Bitcoin after you die?” Casa is a startup that develops multi-signature key security as well as Lightning nodes for Bitcoin.
After one dies, the private keys to the secure wallet could die with them or one would have shared the recovery instructions with an heir or one could use a custodian who manages the keys. All these three options have a certain extent of risk from total loss to theft.
“With Casa Covenant, we’ve built a Bitcoin inheritance service and protocol that allows you to securely pass on your bitcoin to whomever you designate, while minimizing the risk that someone can steal these funds in advance of your death.”
Casa is combining multisig and a proper security signal to support safe and controlled transfer of Bitcoin. The multi-signature technology has then been integrated with the current estate planning along with the legal system.
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