Pre-ICO: Safe Haven – The solution to digital inheritance
February 6, 2018 BY Sebastian Ifversen
Have you ever thought about what would happen to your cryptocurrency investment, if something were to happen to you?
Safe Haven aims to solve that problem. You will have full control over your assets, but they will make sure if, in the unfortunate event that you were to pass away, your digital assets will be passed down to your family/stakeholders in a transparent and secure manner.
The process will be initiated by a registered member of their Trust Alliance Network which is a group of legal entities that have a secure relationship with Safe Haven, in order to process the necessary validation steps. The Trust Alliance Network will then divide the data to protect and distribute the obtained assets to the inheritor by using the application specially developed by Safe Haven for this use. This application will not contain any data in memory nor in centralized databases, only the validators share will be sent to the blockchain. The assets will be encrypted and it will only be accessible by members of the Trust Alliance Network. It will be stored on the blockchain by using Smart Contracts.
For a more technical and in-depth breakdown of the technology behind Safe Haven, you can read the step-by-step guide in their whitepaper: https://safehaven.io/files/SafeHaven_WhitePaper.pdf
Now you know what problem Safe Haven is trying to solve, and how they are planning to do it, but you might wonder what the utility of the token is.
The token is called SHA Token, and it is an ER20 build on the Ethereum platform. The SHA Token will be used as fuel for creating/executing contracts.
“In order to use Safe Haven’s Services and platform, the initiator will need to deposit SHA tokens in a time-locked smart contract (I-TLSC). The SHA tokens will be released over-time relative to the conditions written in the smart contracts after validation within our Trust Alliance Network (TAN).
Those locked tokens will become inheritable as soon as the release procedure is initiated.
A legal entity will need to lock more tokens than a standard user in order to use the TAN to foresee his customers with services. These tokens will be locked into Legal Entity – Time-Locked Smart Contracts.” (https://safehaven.io/files/SafeHaven_Token_Utilization_Architecture.pdf)
Furthermore, Safe Haven is currently working on a staking solution so users that decide to lock-up their tokens will be rewarded for doing so.
Let us look at who is behind Safe Haven.
The team consists of 10 members, who have a lot of experience in both security and developing. There are three co-founders, and Jürgen Schouppe is the most noticeable, as he has more than 10 years of experience with developing and network security for the European Parliament in Brussels.
In addition, there are 5 advisors, two of whom you should know; Jeff who is the social media advisor and Shashwat being the growth advisor.
Safe Haven has also partnered with Brussels Blockchain Banking Summit, Blockchain Association of Belgium and Bounty0x
Overall, they seem to have covered all the important posts for this project to make it a reality. However, this is not an all-star team, but they have a lot of experience in security and development, which is a very good thing.
Let us take a look at the future and Safe Haven’s roadmap.
Safe Haven is a project in the early stages, and the execution is therefore very important. So far, they have been able to follow their roadmap without any delays, and hopefully, it will stay that way. As you can see on the roadmap below, the ICO will be launched in Q1 2018, and you can now sign up for the Pre-ICO (https://safehaven.io/whitelist.php). The development is also ongoing, and in Q2 2018 the Safe Haven platform beta will be launched. If the launch of the Beta is successful, the Safe Haven platform will fully launch in Q3 2018, and they will then have a working project. The roadmap is not very long yet, but hopefully, it will be continued soon.
As mentioned earlier, the Pre-ICO Registration is now underway, but we have not yet talked about what the money will be used for.
They are looking to raise min. 3000 ETH and the hard cap is 25.000.000$, which is fairly low.
The exchange rate is as followed:
Pre-sale: 2500 SHA = 1ETH.
Pre-ICO: 2000 SHA = 1 ETH
ICO: 1500 SHA= 1 ETH
The Pre-sale began back in Q4 2017, and only 5,000,000 SHA of the total supply of 85,000,000 SHA Tokens will be available for the Pre-sale. Then another 26,000,000 SHA is reserved for the Pre-ICO, and 20,000,000 SHA for the ICO. The remaining 34,000,000 SHA is for the Founders, Company (The tokens for the Founders and Company will be locked for 12 months), Advisors, Community and Bounty.
A large share of the funds raised will be spent on developing the platform, and to be exact; 40% of the funds raised. Another 10% will be spent on marketing, 18% on salary plans, 15% on legal expenses and 17% on operational expenses.
Let us sum up.
Safe Haven is trying to solve an important problem, however, not many people/investors think about what will happen to their investment if something were to happen to them. Therefore, correct marketing will be of the utmost importance in this project. So far, they have not been mentioned on major news platforms, but that is pretty common for projects this early, and hopefully, that will change when the Pre-ICO begins and the cash starts flowing in. Other than that, this seems to be a great project solving a big problem, and if everything goes as planned, this could very well be a big success.
The Pre-ICO Whitelist Registration recently opened, and you can sign up here: https://safehaven.io/whitelist.php
Jeff also mentioned Safe Haven in one of his videos, you can WATCH IT BELOW.
For more information visit: https://safehaven.io
This is not professional financial advice. The above references an opinion and is for information purposes only. It is very important to do your own due diligence before investing.