A standard trust has incredibly important benefits for individuals and businesses looking to protect their assets and wealth. The process of transferring wealth can be long, complicated, and expensive. The estate can also be heavily taxed, often unforeseen by the beneficiaries. Having an international trust structure for assets has many advantages, including providing a seamless, secure pathway to a tax-efficient transfer of wealth.
But what about cryptocurrency? It's important to have a plan to transfer digital asset ownership and ensure its security. Digital asset custody has become a crucial part of the cryptocurrency economy. Investors and businesses need to ensure that all parties handling digital assets are trusted and secure and that the system itself is beyond reproach.
Custodians in traditional capital markets are responsible for safeguarding investors' assets and minimizing the risk of fraud, theft, or loss. The same is true for digital asset custodians, who protect their clients' crypto assets. Unlike traditional asset custodians, digital asset custodians do not control the assets themselves; rather, they safeguard the keys to these assets. The assets are cryptographically protected, and the custodians are in charge of holding onto the keys.
A key aspect of digital asset custody is the need to protect against insider attacks through systems and processes designed to mitigate risk. The technology must be able to secure digital assets against unauthorized access and misuse by insiders or third parties while also allowing authorized users convenient access to their holdings in a timely manner. MultiSignature ("MultiSig") technology improves security and reduces the risk of theft. In the simplest form, a MultiSig protocol requires two or more private keys to authorize a transaction. MultiSig enhances asset protection because it requires the approval of multiple people to process a transaction before it can be completed. These additional steps are designed to add an extra layer of security to the transaction, ensuring that no single person has control of the funds.
The Rivsafe is a turnkey estate planning solution for cryptocurrency that combines secure custody, MultiSig protocols, and an international, trust-like structure. Rivflow's team of experts collaborates with clients from the beginning of the consultation through to the launch of their estate planning solution. With Rivflow, clients receive and secure estate planning solution for their cryptocurrency.