Serenity Shield, an innovative startup focused on providing real solutions to real wealth management problems in the blockchain sector, has announced a novel seed recovery solution without custody, which aims to help crypto users manage their money in terms of inheritance plans.
Serenity Shield’s digital Asset Legacy offers a seed recovery solution without custody that can help family members access all the crypto legacies left to them in the event of an investor’s sudden death. The loss of private keys permanently locks all crypto holdings.
As a product without custody, Digital Assets Legacy provides a secure mechanism by which a person can appoint heirs.
In this way, long-term crypto owners can safely pass on their wallets, which proves the continued acceptance of digital assets as the world moves towards Web3.
Rodolphe Seynat, the co-founder of Serenity Shield, said the following about the product:
„Serenity Shield solves a real problem arising from the mass adoption of crypto: how to maintain the same flexibility of Web 2.0 while remaining without custody? With Web 2.0, it is rare that you completely lose access to your accounts, and we need to bring the same experience to Web 3.0 if we want to reach 1 billion crypto users in the next few months or years.“
How does Digital Asset Legacy work?
Serenity has developed a system that spits out a user’s startup phrase into three non-transferable NFTs. This is done via the startup’s StrongBox, with each part containing a third of the recovery seed.
The owner of the wallet takes one NFT, another goes to the appointed heir, while the third remains in the hands of Serenity Wallet.
The wallet executes a smart contract that, when triggered, is executed by delivering its third of the key to either the original user or the heir. The actions can be performed only according to the initial parameters of the activation conditions in the StrongBox.
Where can you access Serenity?
The digital asset Legacy is accessible through the Secret Network, a blockchain platform designed for private data storage. A private blockchain allows the recovery of private keys in an environment without custody.
In addition, Serenity Shield is aimed at all types of users in the crypto space, with supported features that “the simplicity and flexibility of traditional Web2 authentication“ combine. However, the technology offers more than just ease of use, as its services are completely without custody.
Serenity Shield has planned a public sale of its SERSH token worth $ 4 million, allegedly by June 2022. After that, the launch of the mainnet is expected to occur in the third quarter of 2022.