Will multi-sig Vault help out?


source
Ok, this is just my suggestion to start with. The idea is a secured yet efficient world as we continue to dive much deeper into the digital space. technology is indeed very wide, as I will always say, we will never be that satisfied when it comes to tech. The insatiable need of humans will continue to increase. We were in search of portability and then tech showed up.

How surprising one can carry his entire investment in his pocket. Real World asset tokenization (RWA) will indeed be very groundbreaking at the massive adoption phase. Many will be spending millions and billions on tokenized real estate. We await proper regulations as we are already seeing it gradually kicking off.

Maybe, you did not find time to check out my earlier article. It ALL centers on what will be lost. Virtuality or digitalization has this risk of ‘a forever loss’ if I should say. The more the security, the higher the risk of loss.


source
You keep you data and account private, you also in the process put yourself at a risk of not allowing any beneficiary to benefit should the Incase happen. Can any of your brother or relative access your phone? How about your laptops, emails and social media handles? Indeed a big No.

So what if a sudden incident beckoned? Maybe you entered into a comma or worse of all death. Let's be real, I know we do not pray for such, nevertheless we have to be prepared for anything that shows up. wealth must be properly passed without hanging on digital realms if the sole owner exits the universe. Take for instance, if a father dies, the children automatically claim the properties. Of course they can see them that is why they can claim. Not the same on digital realms, too much security and privacy is a big Breach.

source
So how do we solve it? Well, the best part would have been for humans to be sincere with one another. Ok, we haven't been able to achieve these so let's move to the Next phase. I am suggesting a future of ‘multi-sig vault’. How will it work? It will be a wallet of security on security. A place where many can put in their assets, documents and securities with an approval to breach each individual's account after an absence of a reasonable period of time.

Still complicated? Let's take this example. We have a master e-mail and inside that email are sub-emails that can be passworded and protected by each individual who owns a slot. Everybody who is a subpart of that master E-mail will know the Master E-mail password and his singular slot password. So how does this resolve the problem? This is where breach of account comes in depending on contracts condition.

For instance, if any user fails to log into his or her account as a sub-slot of the master E-mail after three months, his account will automatically open up for access. It sends out an automatic opinion that something went wrong with the owner (mostly assumed dead). It could be set to six months, one year or so. The idea is to make sure assets are well retrieved. Without such an idea I feel we are heading into a future of more individual loss. The matter gets worse in decentralized platforms.

To conclude, let me add, I feel the idea of multi-sig vault will be a worthy technology to make sure wealth is well passed. We can't doubt the need for asset security especially in this volatile online space. Nevertheless, if security becomes too confidential, resources will continue wasting on this virtual space. It will lead to asset stagnation. The introduction of multi-sig vault tech technology will be to bring corporates together to keep diversified secrets.

It will need to be one strong wallet anyway as it will be a hunted ground yet again for hackers who will be looking for how to rob such multi-diversified info. As I said, tech will continue to evolve to curb all wildfires. As we look into the future of flexibility, it’s will also carry; risk still remains inevitable.

Posted Using INLEO



0
0
0.000
0 comments