World’s First Digital Cryptocurrency Vault DigiPulse Reaches $1million in Token Sale
DigiPulse, the world’s first ‘digital cryptocurrency vault’, which provides an inheritance service for digital and crypto assets, has reached the $1million mark in a token sale, which ends on 31 October 2017.
The new brand enables customers to safely secure and pass on their digital assets to those they care about when they pass away. These assets can include cryptocurrencies, digital images and other documents.
Dmitry Dementyev-Dedelis, co-founder and CTO of DigiPulse, first saw the potential for DigiPulse when he encountered health issues and realised that, if he were to pass away, his family would be unable to access his digital wallet. His cryptocurrency assets would be effectively lost.
DigiPulse solves this very important issue by allowing its users to store and encrypt information on their own decentralised blockchain.
Normunds Kvilis, CEO and formerly an analyst in a leading Scandinavian bank, said, “The idea behind DigiPulse is that we are addressing one of the major flaws that cryptocurrencies themselves have, which is that in order to use cryptocurrencies you need to have a digital wallet.
“Cryptocurrency wallets consist of a public address and a password. If you lose either one of them, your assets are stuck in internet limbo. We offer, firstly, a way for you to pass your assets on, with an inheritance service, and secondly, a failsafe solution – in case your PC gets lost or your house burns down. You can still access everything that you have stored.
“The system is based on smart contracts on the Ethereum blockchain, which are put together on top of our own blockchain which encrypts and stores the data in small chunks so it is practically impossible to hack.
“We are seeing a great deal of support from the crypto community because they are in need a product like this. As people begin to use cryptocurrencies for a broader range of applications and hold significant crypto assets for investment, we must ensure that their families receive their belongings if the worst does happen.”
The DigiPulse system uses what is often known as a ‘dead-man’s-switch’, in connection with the customer’s smartphone, social media account or emails. If these are not accessed for the agreed period of time – between one day and 18 months – DigiPulse will automatically contact the rightful inheritor. If the customer chooses to remain anonymous, there is no requirement for them to share their details and the system can work by tracking activity by their digital wallet.
The DigiPulse team is largely based in Riga, Latvia, with connections around the globe.
