As global digital asset holdings grow, the inability for those assets to be inherited in traditional legal systems creates a gap in classic estate processes. Heirifed is looking to provide a one-stop solution to enable users to bridge that gap. And they're doing it with Web3 security and integrity at its core, which is why Weavechain and Heirified have partnered to create trustless systems for the verification of data and signatures on the public ledger.
Heirified is launching the world's first global trust & estate planning platform for digital & traditional assets built with RegTech & AI. Their platform addresses inheritance challenges in the FinTech space related to both digital assets (Cryptocurrencies, NFT's, Data, etc.), and traditional assets (Equities, Fiat, Stocks, Metals, etc.). They are partnering with Weavechain to ensure that data has not been compromised by using cryptographic guarantees of integrity.
Founder and CEO of Heirified Ali Salah, describes the organic partnership springing up from his meeting with Weavechain founder and CEO Omar ElNaggar at the Stanford Science of Blockchain conference 2022: “At Heirified, we solve a critical problem for crypto asset holders, including equity ownership for startup shareholders across the world, ensuring they can pass on both digital and traditional assets to their loved ones, regardless of whether they are aware of them or not, preventing assets from being unclaimed. Aligning with Weavechain to implement a Web3 solution to guarantee our data's integrity is a natural extension of our core offering, acting as a transparent, compliant, and trustless system that meets regulations.”
What happens to cryptocurrency and other digital assets when holders pass away has been written about at length because of the complexities entailed and horror stories of beneficiaries being locked out of financial resources after a loved one's death. With 3 trillion dollars held in digital assets as of November 2021, inheritance systems are essential, yet Blockworks wrote about the lack of features embedded within exchanges to support customers. Heirified and Weavechain offer a solution for asset holders to create compliant plans for their assets with data that is verified by a Web3-powered trustless system.
Omar ElNaggar, Weavechain founder and CEO says: “Weavechain's technology can apply a cryptographic guarantee of immutability to secure Heirified's data, done through a proprietary system in which hashes, not the data itself, are stored on blockchains to protect sensitive data from ever leaving company servers. This is essential to Heirified which handles its clients' most sensitive estate-planning data while facing a variety of regulations to comply with. Both Weavechain and Heirified look forward to using Web3's technological benefits to protect clients' assets and provide peace of mind.”
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