Automated Inheritance Platform – The “Dead Man Switch”
OSTREON Inheritance is based on the “dead man switch” concept.
A “Dead Man’s Switch” is a safety feature that requires a user to provide regular check-ins or active input; if they fail to do so after a certain period, it assumes something might have happened to the user and automatically triggers a pre-defined action or system response.
In the context of OSTREON, the Dead Man’s Switch acts as a notification system you must approve, by logging into the platform, to prove to the algorithm that you are alive, and that it should hold the execution of your digital inheritance will. We call those notifications “Keep Alive”.
Setting your inheritance parameters
As a first step, in the inheritance parameters you chose the frequency of the “Keep alive” notification. Available options are 7 days, 14 days, 30 days, 45 days, 60 days, or 90 days. The default for a new user is 30 days.
Then, you will have to choose the notification type: By email, by Ostreon Inheritance App notification (soon!), or SMS (soon!). The default for a new user is by email.
Approving your notifications
By approving your “keep alive” notification, you are flagging the algorithm you are alive, and that your automated inheritance system should remain on hold.
If you miss a notification, the platform will send you a new notification every day, until you either approve it or the priority level 1 timer expires. This timer acts as a delay period making sure your beneficiaries do not get access to the assets you assigned them while you might be alive and just had no access to your notifications for some time.
We made it flexible and you can choose the delay you want by selecting the most convenient options for you.
Add your assets
In the assets page, you can add any information you would like to provide and pass on to your beneficiaries. Assets can be rather tangible or digital. In any case, you should consider providing the maximum possible information to allow your beneficiaries and loved ones to legally claim your assets.
Deciding who will inherit what
By setting your loved ones as beneficiaries, you can assign each of them which asset you like them to inherit. You can pass on all asset details and information to more than one beneficiary in OSTREON Inheritance. However, passing on information about your assets does not provide the beneficiaries the legal right to inherit them. A legal consultation should be considered to ensure the legal status of your intention and estate planning on OSTREON Inheritance.
Automated trigger of your inheritance mechanism
If you remain inactive and do not answer any of your Keep Alive notifications during the period you chose, Ostreon Inheritance will be triggered and your beneficiaries will automatically be contacted by email (the email address you set). They will receive guidance to log into their personal space and see the asset and personal information you assigned to them.
The authentication process will request security information that only your beneficiaries have access to ensuring they are the only ones able to connect to the platform.
To authenticate, they must have access to their mailbox and follow the instructions they received by email. It includes an activation link, a 32-char length string the algorithm has generated, and an OTP code that serves as 2FA. Combined with information only they know (their birth date), they can successfully log in.
This process ensures high standards of authentication to avoid unwanted parties accessing his vaults and seeing the assets and information assigned to your beneficiaries.
Customers are notified when a beneficiary is granted access, and again when he logged in. Beneficiary access can be revoked at any given time by connecting to the platform and at a click of a button (see beneficiary window in inheritance tree).
It starts, runs, and ends with maximum security and privacy.
In OSTREON inheritance we are implementing zero-knowledge and zero-trust concepts. We are encrypting your inheritance and assets data with your password that is never sent to our services. We are using the most secured encryption algorithm (AES-256), which is considered today as quantum-proof encryption. No one, including the OSTREON team, can decrypt or read your inheritance data. Only the beneficiaries you set, when the time comes, with the preferences and conditions you chose in your inheritance tree.
Read more about our security and privacy in OSTREON Inheritance.
For further questions or assistance, please reach out to our support team.
