"Trustless crypto-asset safe and inheritance protocol"

Introduction

The crypto ecosystem has come a long way since the inception of Bitcoin, the first-ever peer-to-peer digital money. Interestingly, it has paved the way to more innovations than just internet money now. We have seen the radically transformative changes in finance, governance, collectible marketplace, and in many more areas due to the creation of decentralized and open versions of it. But most, if not all projects rely on crypto-assets to fuel their projects. So, there is a tremendous value being derived in these projects in the form of crypto assets. Hence, one has to make sure that their assets are safe and sound.

Owning, securing, and inheriting the digital crypto-asset unlike other digital assets can be challenging due to the self custodian nature of the ownership. Every user always desires a guaranteed recovery and inheritance mechanism in case of tragic events. But there is no standardized way to easily and securely back up and recover the assets without putting a tremendous trust in a few actors.

Safient proposes a solution to securely and conveniently store any critical information that is needed to access and recover the assets in case of any tragic events. Safient is a trustless protocol, meaning that there is no need to necessarily trust any actors while using the solution. Safient also provides a trustless yet safe way to transfer and inherit the assets by close ones whenever such an unfortunate scenario occurs.

In essence, you can think of Safient as your trusted guardian even though it is completely trustless.

<aside> 💡 Safient is the combination of 2 words: Safe and Convenient as we believe in providing the safest and convenient way to protect and inherit your crypto assets.

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What are we solving?

Self-sovereignty or self custody is one of the most desired features of crypto assets. It means that the owner is the only safe keeper of the assets. This might be intimidating for many as they don't want to be entirely responsible for preserving the assets against attacks and making sure that they are inherited at the right time ("With great power comes great responsibility").

A straightforward solution is to rely on third part trusted services to perform recovery and inheritance of assets. But the approach eliminates all the benefits of self custody and further creates a gateway to several unforeseen threats and uncertainties. A minority of the people who have ventured into finding a trustless solution to this problem haven’t found a convenient and secure way to perform safekeeping and enabling the inheritance of their crypto assets.

Due to all the complexities involved in the solution, we haven't paid much attention to creating recovery plans for all these valuable crypto assets and have always ignored all the possible attacks and unfortunate events. We have found out through one of our user research surveys that only 48 percent of people have a recovery plan and only 22 percent have created an inheritance plan for their crypto assets. That is convincing enough for us to venture on to tackle the problem of crypto recovery and inheritance.


Introducing Safient

Safient provides a protocol to manage crypto secrets securely and conveniently that helps you or your beneficiaries claim crypto assets without the trusted human intermediaries. Safient protocol eliminates the need for trusted intermediaries with the help of trustless protocol where users can create safes that can be claimed by the beneficiaries with full surety in case of any tragic event.

What are the features?

We concentrate on a few things in our initial solution to guarantee safety and usability before piling the protocol with numerous features.

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