Sberbank uses cloud-based Bitcoin inheritance tool

A group of Russian experts is developing a new blockchain-based service to allow users to bequeath their cryptocurrency assets and digital rights to the next generation.

The National Technology Initiative (NTI) of Russia’s Global Technology Leadership Program announced a new digital inheritance tool based on blockchain technology, local news agency RIA Novosti Report Tuesday.

The initiative brought together experts from three local universities, including Lomonosov Moscow State University, National Nuclear Research University, and Moscow State Institute of International Relations.

According to NTI, the service is called a “time capsule” and will allow users to store digital data and assets such as social media passwords and bitcoin wallet keys. According to reports, NTI representatives pointed out that the service will also allow the transmission of other digital assets such as images, text, video or location coordinates.

Project manager Dmitry Izvekov (Dmitry Izvekov) said that the working group is now building a website that allows users to store their digital assets in encrypted form before the data is ready for transmission to designated personnel on a designated date. Izvekov added that this information can only be transferred if certain conditions are met, and it will take effect within six months after the data is uploaded to the website.

According to the report, the expert group plans to store encrypted digital heritage data on SberCloud, a cloud-based service operated by the state-owned Sber (formerly Sberbank), Russia’s largest bank.

The report states that users will be able to copy data through cloud services such as DropBox. According to reports, the project creator intends to raise up to 3 million rubles (US$40,000) to fund the program, and hopes to monetize it as soon as the platform becomes more popular and provides additional services.

related: The CEO stated that the Central Bank of Russia policy prevents Tinkoff from offering crypto transactions

Although it is reported that Sber’s cloud-based platform is expected to participate in the storage of digital assets such as Bitcoin (Bitcoin) As part of the project, Russia’s largest bank is not a big fan of cryptocurrency, at least in the country.Last month, Sberbank CEO Herman Gref believed that cryptocurrencies like Bitcoin are Probably the most risky investment type Keep pace with the stock market.According to reports, before Sber Plans to establish a cryptocurrency exchange Through its Swiss subsidiary in January 2018.