Expanded Features

On top of these ideas for the future, we are currently also leveraging this Dapp, to create related products and services that leverage this protocol, and implement it in the real world to solve problems faced by our users. For example, one of the problems identified by our customers is leaving crypto to users who are not tech-savvy or web3 savvy. For that we are creating a service, that leverages this Dapp in the background, providing the owner of the crypto with complete security and control of the crypto once they are alive, as well as the right to set the beneficiaries. Tech-savvy beneficiaries can claim directly from the Dapp, but for non-tech-savvy beneficiaries, GenWealth provides a service. In this service, we establish a contract with these beneficiaries, hold the pocket token ( the token that gives the privilege to claim their share of the crypto) under their name, and when the time comes, GenWealth claims the share of the crypto, sells it and transfers the value directly to the bank account of the beneficiary. To align incentives, the contract has a two-times liability clause, where if we fail to deliver our part we are liable to pay the beneficiary twice the crypto he stands to receive.

Finally, we believe this solution can also be extremely useful for executors, and other entities and firms involved in the process of managing estates and planning and executing inheritance. The solution can be useful right now to help them save a lot of time and money managing the estate of users who have cryptocurrency assets ( naturally increasing its utility for these firms the more blockchains we expand to) and will become even more useful as an increased amount of Real-world asset become tokenized in the Blockchain.

As such, helping support and serve this tokenization for real-world assets process, by providing this on-chain and trustless solution to pass on the property and control over your assets to your heirs, is certainly an important role we want to play. This is a crucial technology to allow for self–custody of tokenized assets, which is the gold standard for holding your assets, and the only way to assure you are not subjected, or that at least you limit any counter-party risk. As such, there is an opportunity to partner with real-world asset tokenization projects, as well as with companies that manage estates.

As real-world assets get into blockchain, we intend to position ourselves to be crucial infrastructure in their management, but more than that we will be able to increase our utility in the inheritance world, by catering to a much wider range of assets and becoming even more useful to users, executors, and firms in the inheritance space.