FortKnoxster Becomes the First Crypto Company to Provide Beneficiary & Recovery Platform

FortKnoxster (FKX), mainly known for its end-to-end encrypted private messenger and DeFi services, has recently announced its new signature feature known as DieFi.

While presumably inspired by the term ‘DeFi,’ DieFi is the first crypto beneficiary and recovery platform. 

The project derived from one of the market’s most significant concerns: What happens to your cryptocurrencies when you pass away or have a fatal accident?

Understandably, there are no ways to access someone’s portfolio once the latter dies. Hence, even if someone has millions or even billions of dollars invested in cryptocurrencies, the money would be lost forever once that person dies. To illustrate, at least $200 billion worth of Bitcoin is no longer accessible because of this.

Here is where DieFi comes with a solution to such a problem. FortKnoxster has created a decentralized and military-encrypted platform that allows you to make certain people of your choice your beneficiaries if something (bad) were to happen to you. 

Of course, such a sophisticated feature would require plenty of verification from both the users and the beneficiaries. However, this feature is essential to ensure that the beneficiaries get your cryptocurrencies rather than someone else or in most cases no one at all.

How Does DieFi Activate?

You can decide to activate DieFi whenever you want and select the timing of your choice. The default setting entails starting the program 12 months after your last log-in. If you do not log in for 12 months, the so-called “Dead Man’s Switch” feature activates.

The best part is that you can make anyone a beneficiary, such as a member of your family, a lawyer, a charity organization, etc. Then, all you have to do is write your desired beneficiaries’ information (i.e., personal information, etc.). You can even assign yourself as beneficiary, in case you should lose memory or forget all your crypto logins.

When Will DieFi Go Live?

DieFi is set to launch midway through 2022, expected sometime in June according to the official roadmap. In the coming months, FortKnoxster will work on obtaining external security audits, as well as securing partnerships with ie. exchanges.

When it comes to partnerships, FortKnoxster has already partnered with Uno Re, which is one of the first decentralized insurance and reinsurance companies in the market. Such partnerships make FortKnoxster’s goals to improve the market much more attainable. 

A crypto beneficiary program was one of the most unknowingly required innovations of the crypto market. The patent is still pending for DieFi, but FortKnoxster might have come up with the biggest life-changing invention within the crypto industry. Subscriptions can be bought using their token FKX.

DieFi is Decentralized

FortKnoxster’s DieFi Crypto Suite is decentralized, in fact, it must be, in order to be as secure and transparent as possible for the users’ safety.

Read more here: FortKnoxster Decentralized DieFi Crypto Suite