Casa introduced a service, which allows transferring bitcoins to the heirs of their owner. It uses multi-signature and its security protocol.
To date, there are 3 scenarios:
- after death, bitcoins are lost forever;
- the private key and instructions were transferred to a relative or another close person, which creates a risk of compromise;
- the private key is at the disposal of the custodian, most of whom do not have a procedure for transferring coins to heirs.
Announcing Casa Covenant!— Casa (@CasaHODL) October 16, 2019
A Bitcoin Inheritance Service that solves the question:
“What happens to my bitcoin when I die?”https://t.co/NtLuD9sy4P
The customer needs to open a Keymaster account in Casa. After death, the deceased's private key on a hardware device, one of the parts of the multi-signature, will be transferred to the control of his lawyer by inheritance.
At the same time, Casa will provide both the lawyer and the family of the deceased with the necessary educational base to ensure the security of the transfer process and the further storage of bitcoins.
Casa Covenant multi-signature requires 3 out of 6 keys - an additional lawyer key, a Casa key, and a deposit box key.
Previously, they tried to solve the problem of bitcoin inheritance. In 2015, entrepreneur Andreas Antonopoulos created Third Key Solution. Its CEO Pamela Morgan introduced the Bitcoin Inheritance Solution at the Baltic Honeybadger Conference in 2017.