October 1 – October 31, 2017
Interview with DigiPulse
BitcoinChaser: What kind of problem, market deficiency or opportunity inspired you to launch your project?
DigiPulse: The idea came from the fact that we as humans are vulnerable to mortality and if anyone of us were to pass away, it wasn’t quite sure how inheritors would gain access to everything stored online. Of course, not anything we accumulate can be considered as “valuable”, but when it comes to assets that contain monetary value, it seems careless not to pass such things on.
With the creation of Blockchain technology in 2009, people all over the world are starting to use cryptocurrencies as an alternative form of payments and investment. But this form of currency has a flaw – if the user can’t access the digital wallet where the currency is stored (because of death or loss of memory), then these assets will remain dormant and lost to anyone forever. This in turn can lead to huge losses if a single person stores all of his assets in crypto wallets.
Currently no other solution exists of making cryptocurrency assets inheritable (while still using them). Regarding solutions like password boxes, the master password still needs to be handed out to an inheritor (that could be forgotten) and the information needs to be made known to the inheritor in the first place. The passing on of digital keys can also be done with the help of physical storage means e.g. a “paper key” or USB stick, but they are still vulnerable to theft.
Additionally, centralisation plays a huge role in the asset storage process. From the crypto currency holders point of view, it doesn’t seem safe or viable to hand their valuable information on to a centralised service, that would be vulnerable to internal human resource misconduct – thus the usage of blockchain plays a huge role.
BC: How will your project address this problem, market deficiency or opportunity in a unique way?
DigiPulse: Blockchain and the decentralisation aspect of it is the perfect setting into which an asset encryption and distribution storage service is set up. This allows to encrypt, split and store information on multiple devices across the world thus ensuring that we, as a service provider, do not have access to the information the user wishes to encrypt (a completely decentralized service) and the threat of internal risks which come from human resources is mitigated completely.
The Ethereum smart contract is a powerful tool if applied correctly. In our case we are using this technology to create a new service for those who wish to keep their assets safe, make them inheritable and remain anonymous (if they wish to) in the process. In addition, we have created a solution that deals with the inheritance access send-out in an automated way, by utilising the “activity tracking” of the user through multiple web based integrations or the smart contract itself. Our solution requires only a one time set-up of the service, if no additional files/information need to be added to the inheritable “vault” and the DGPT, which allows the user to prolong the asset release timestamp for the smart contract.
BC: How do you think that competition will develop following your ICO?
DigiPulse: The DigiPulse project is a unique solution for those who are involved with cryptocurrencies, but we also see that this approach can be applied to assets that are stored outside the crypto domain. There are a lot of services that deal with cryptocurrencies, but store these assets themselves (the crypto wallet is located on their servers). If the original asset holder passes away, these assets are handled through the process known as “escheatment”. There are multiple services where this approach is applied and DigiPulse could branch out with the unique “activity tracking” solution.
We know, that the idea of service which is similar to that of DigiPulse, has crossed many people minds, not only regarding cryptocurrencies but in other fields of digital assets. Although, we believe that DigiPulse is unique in many aspects and we consider ourselves as first-movers, there is another one ICO that has emerged and is offering similar service – mywish.io. It would be wrong to think that similar services won’t appear in future that will offer the same to what DigiPulse is offering, but it is also a huge advantage to be the first to operate in this segment because of potential opportunities gaining a significant market share.
BC: For all those who have read your white paper and are still on the fence about contributing to your ICO, what can you tell them that could lead them to buy into your project?
DigiPulse: It is known that industry of cryptocurrencies is booming and also the amount is increasing of those who are involved with cryptocurrencies, thereby we believe that DigiPulse project will gain ever increasing attention and the project itself will potentially scale in size ensuring long-term growth for DigiPulse project.
We are always listening to our potential customers and everyone who is interested in our project is always most welcome to contribute with a feedback and ideas, that could potentially be implementable in the service and all sorts of things that involve DigiPulse, this is also one of the most crucial things, that allows us to create this service as good as potentially possible.
In addition, our Team consist of very powerful people, that are in every aspect that involve DigiPulse project, but most importantly in fields of cyber security and blockchain development.