VeChain Foundation has announced that SafeHaven will switch from the Ethereum blockchain to the VeChainThor blockchain.
The company states that it has reviewed SafeHaven’s technology, network, and background and sees “true value added to our platform by working together in partnership. This partnership will allow users access to a host of necessary solutions for continuity.”
It is rumored that one of the reasons why SafeHaven ditched the Ethereum platform is because of the associated scalability concerns.
The company states, “with the rise in cryptoassets, digital inheritance has become a critical technological need to empower entire business procedures, individual legacies, and continuity for disasters.”
The aim of the platform is to resolve the important question of how your family and spouses can gain access to your digital legacy in case of loss of life. It has four main products such as the Family Circle Plan, which gives access to a defined group, and the Business Continuity Plan, which allows “companies to distribute authority, ownership, and assets in programmable smart contracts to be executed on a set event, outcome, or procedure.” Besides, it offers its users to use two other plans called Investment Circles, which is an improvement on the multisig wallet and “is useful for people who manage group fundings” and a Safe Haven Vault, which enables data sharing with certain individuals. In both cases, you define the terms of the access.
According to VeChain, the Safe Haven Family Circle Distribution Protocol is currently being tested on the Ropsten network. VeChain also indicated that they will soon announce the date of VET private and public offerings.
In turn, SafeHaven also pledged in its own announcement “through the facilitation of VeChain Foundation, to enable VeChain X-Node holders to have methods to achieve different tiers of rights of purchase and discounts.”
Currently, VeChain trades at $3.21 USD (2.87%). Previously the company also partnered with DNV, a Norway based organization.
Read our review of Safe Haven here.