Articles

Estate Planning in 7 Steps (for bitcoin, altcoins, asset-tokens)

If you died tomorrow would your family inherit your bitcoin, altcoins, and asset-tokens? The answer depends on you. While legally, the answer is yes, if your passwords, passphrases, and key locations die with you that probably won’t happen. Without those things your crypto-assets will be inaccessible. But there’s no reason for these assets to die with you. A simple, well-executed plan can ensure your assets survive but only if you actually build it. Start planning today.

Developing a Recovery Plan

Your company’s recovery is plan the most important document you can create to ensure your business will survive an emergency. If you operate a bitcoin, altcoin, or asset-token based business, a recovery plan isn’t nice to have - it’s absolutely necessary. A strong, well thought-out recovery plan can help to prevent opportunistic fraud and asset transfer mistakes by providing clear guidance during atypical events.

Security Theater: Outsourcing Customer Identity Verification

Security is tricky. Sometimes the most obvious security solution is ineffective and, worse, a distraction from the real risks and issues. In the security industry this is called “security theater.” It looks good and makes some people feel secure, but doesn’t actually reduce risks. Sometimes security theater even exposes people to even greater risk. Such is the case with third-party identity verification for the recovery of bitcoin accounts. It seems like the obvious solution and feels secure, but, in fact, it exposes users to far greater risks without actually doing much to increase security.