The post Tales From The Crypto: The Haunting Legacy Problem Of Digital Assets appeared first on Coinpedia Fintech News
Cryptocurrency has introduced a financial revolution that is changing the way we store and manage our wealth. However, the crypto world is still in its infancy and has not yet fully addressed some of the key challenges that come with this new asset class.
One of the most significant problems is the issue of crypto inheritance and what happens to digital assets when an owner dies. Access can be lost, but it can be lost in life too, which poses another problem. This article will look at a promising new solution to each of these.
A grave problem
In December 2018, Gerald Cotten passed away from complications related to Crohn’s disease. Cotten was the founder and CEO of Canadian cryptocurrency exchange QuadrigaCX. It transpired that he was the only person with access to the exchange’s cold storage wallets, where the majority of its clients’ funds were kept.
With C
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