Death isn't something most people plan for. In most cases, people never plan for the eventuality of death. We all hope to live forever or die at our choosing but that's far from what's obtainable.
Being in the crypto sphere and having to manage a plethora of (private) keys that access thousands and even millions of dollars, one can't help but wonder what would happen to those funds if the owner dies untimely.
I have come across several dormant accounts on hive with thousands of hive locked up. There are even cases of people losing access to their accounts and nothing can be done about it.
I do wonder if developers ever factor in death when creating protocols for a blockchain. Is this something that can be explored? I have heard people talk about staking their crypto for the children. What if these kids never know about these digital assets?
Could there be a way stakeholders could transfer value to another account if they become inactive for a prolonged period (a year maybe)? I think this could transfer value without the help of a third party which is relatively safe.
In my case, most of the digital assets I hold are tied to hive, which is a good thing because you only need one key to access it all. I have my key saved somewhere accessible to my family, so I do not think they would have issues assessing what I have if need be.
According to this article, there is the option of keeping your keys with an executor. But the reality is not many people think that far. If a survey was to be carried out here on hive I believe there would be less than 10% of the active users who use such services.
The goal is to always prepare for things before they happen. Today I will talk to my brother about some of my crypto holdings and how he could assess them if need be. It may not be the most secure way of handling this issue but if things ever go south, I want my family to have access to my funds.
So I would like to hear from you. What would happen to your crypto assets if you died? Are there things you plan on doing to make sure the people you care about have access to your fund when you die? Share with me in the comment section