What is DieFi?

What Is DieFi

If you have ever wondered what would happen to your digital assets when you are no longer on this earth, you are not alone.

Who will take over your crypto & NFT portfolio?

Will a family member be able to find that piece of paper with your recovery key that you have hidden somewhere in the house? Will they know which crypto wallet you hold and if you should have more than one, which recovery key/phrase is for which wallet?

With millions of crypto wallets, more than 100 million bitcoin owners and over 12,000 cryptocurrencies in circulation, anyone with a decent crypto / NFT portfolio should be thinking the same when digital estate planning– how can I safely pass my crypto assets to my loved ones.

The new FortKnoxster DieFi feature is the solution. DieFi is an automated beneficiary platform for all digital asset owners.

DieFi allows you to set up a beneficiary testament / a beneficiary will, which will automatically kick in when you fail to sign in to your FortKnoxster account for a period of 12 months or a period decided by yourself. A ‘Dead man’s switch’ triggers this automation.

Your beneficiary does not need to know that you have named them as a beneficiary. Your beneficiary will be notified after the dead man’s switch timer is triggered and can initiate the recovery process, which involves thorough ID verification steps with our ID verification partner.

When FortKnoxster detects that you have not signed in to your account for a long time, emails will be automatically triggered to you requesting you to log in. When a set of emails has been sent to you and you have not signed in, an email notification to your beneficiary is triggered.

The email notification to the beneficiary is 100% automated. The beneficiary is not required to have a FortKnoxster account beforehand. However, during the process of adding/editing your beneficiary, you have the option to notify he/she automatically ahead by email that they have now been added as a beneficiary, should you wish to do so.

To register a beneficiary or beneficiaries in the FortKnoxster DieFi platform, you must input your beneficiary’s First name, Last name, date of birth, nationality and email address. This information will be used to verify the beneficiary’s identity with our ID verification partner.

The beneficiary is notified to their email address after 12 months if the dead man’s switch timer hasn’t been reset/extended by the wallet owner. By reset is meant if the wallet owner has not signed into his account. The dead man’s switch is reset and extended to 12 months every time a wallet owner signs into his/her account. If the wallet owner has FortKnoxster Platinum, he/she can customize this timer. Furthermore, there are options to choose “Backup beneficiaries” if a beneficiary does not respond. I.e., if you have your spouse as the primary beneficiary, if she does not respond, you can set your best friend or, i.e., your lawyer as backup beneficiary.

All document and wallet registrations are encrypted and only accessible to the intended recipients. Once your beneficiaries (or beneficiary) get access to your account, they are able to read all information you have prepared, and you can even upload videos and more.

Share on

Search

More Posts

FortKnoxster Decentralized DieFi Crypto Suite

FortKnoxster Decentralized DieFi

FortKnoxster’s DieFi core concept is decentralized — in fact it has to be, in order to be as secure and transparent as possible. Only the benefactor

Introducing DieFi

We are today very excited to announce our coming launch of the FortKnoxster DieFi Product DieFi suite will be our flagship product to date, and