11:09 | 04.07.18 | News | 85465

Digipulse’s digital asset vault makes it possible to pass on your crypto

Latvian startup Digipulse has launched the world’s first digital asset vault for storage and transfer of other digital assets.

The vault ensures safe, encrypted and decentralized storage and transfer of crypto wallets and other digital assets as inheritance.

The Digipulse smart vault can be used to store any type of files – documents, images, passwords and even cryptocurrency wallet keys.

The user can proactively choose which digital assets to upload to the decentralized vault, as well as when and to whom the assets will be transferred to.

The startup was founded by Normunds Kvilis and Dmitry Dementyev-Dedelis, who note that although cryptocurrencies are rapidly gaining global momentum, they are still high-risk assets when it comes to safeguarding and transferring ownership.

“It has been estimated that almost 4 million, or 23% of all bitcoins have been lost already. If a crypto owner passes away or loses access to their digital wallet, all of their crypto assets will remain forever inaccessible. The same is true not just for cryptocurrencies but other digital assets as well- legal documents, photos, digital identities and other media,” they said.

Dmitry Dementyev-Dedelis first thought of the idea after encountering health issues and realizing that, if he were to pass away, his family would be unable to access his digital assets, including his crypto. He started Digipulse together with his childhood friend Kvilis in 2017.

The startup raised the initial investment of USD 1 million with a successful Token Sale in the autumn of 2017.