DieFi mitigates the risk of lost digital assets coursed by memory loss, emergency, or death.
GIBRALTAR / ACCESSWIRE / September 29, 2022 / FortKnoxster, a leading cybersecurity company in the crypto space, launched its DieFi solution on Token2049 in Singapore.
DieFi is developed to avoid lost digital assets, a Trillion-dollar problem in the industry.
According to Chainalysis, over 20% of all crypto is inaccessible due to memory loss, mistakes, or death. Binance founder Changpeng Zhao (CZ) recently addressed this problem as "the hardest problem in crypto which has not been solved."
DieFi solves this problem, paving the path to Web3 mass adoption.
The Diefi platform enables users to register their crypto information in a trustless end-to-end encrypted environment based on the zero-knowledge principle. FortKnoxster, nor anybody else, can access any data stored, it can only be accessed by holding the exact private keys to the DieFi platform.
DieFi enables users to assign beneficiaries to specific crypto assets, ie. ledgers, wallets, NFTs, nodes, etc. DieFi also comes with E2E encrypted file storage where confidential documents, notes etc. can be stored safely.
In case of an emergency, a so-called Dead Man's Switch is triggered. Hereafter, DieFi will automatically reach out to the assigned beneficiaries, who will undergo a comprehensive real-time ID verification, including face scans and several security checks. If the verification process is passed, the beneficiary will be handed over the DieFi private keys and can hereafter log into the benefactor DieFi platform. Once logged in, the beneficiary can access all registered information and act accordingly. Several beneficiaries can be assigned to specific assets or dedicated file folders.
Furthermore, users can assign themselves as beneficiaries, and in case of i.e. memory loss, they will be able to regain access to their crypto.
CEO and co-founder Niels Klitsgaard comments: "Since the early days of crypto, this has been a significant problem in the industry. We are happy that we now help raise the bar in the web3 ecosystem and take crypto security to the next level, benefiting not only the user - but also the loved ones."
DieFi is designed using the strongest encryption algorithms available combined with a range of various technologies such as time-based encryption, smart-contracts, AI and zero-knowledge architecture.
FortKnoxster, which was founded by Danish cybersecurity experts, has developed the DieFi solution over the past several years. The platform can be used by both retail crypto holders and professional institutions. The DieFi platform has been audited by leading 3. party security companies.