Cypto Asset Storage and Inheritance Course

On demand: Groups of 10 or more: in-person classroom-style or online

Crypto and digital assets are rapidly gaining popularity as more people diversify into this new and exciting investment class.

The decentralised nature of crypto assets means that each user has full sovereignty over their funds. Third party custodianship options are limited, especially to individuals and smaller companies.

The complex and sometimes limited regulatory landscape makes it difficult to navigate this space, yet many individuals invest a substantial amount of their NET worth in crypto assets.

Their knowledge of storing and ensuring their heirs have access to these assets are often limited and they run massive risks in losing their funds. Apart from that, legitimate sources to acquire this knowledge are not widely available and perish the thought of someone turning to Google or social media in the hope of finding solutions.

For institutions, there are a few documented solutions to store large amount of funds. These however, are technical in nature and will require a consultant to properly implement. It is often very expensive and the cost can only be justified for native crypto businesses.

This course provides an overview of the industry standards for storing crypto assets and ensuring heirs have access to these. It is aimed at any individual who has a substantial amount of their NET worth in crypto assets, whether a novice or professional.

To institutions, this course will give an introduction to decision makers about the available storage options, or be a good refresher to technical staff. To new corporate thinking of diversifying into this asset class, it will provide a solid overview of things to keep in mind to keep these funds safe. “Separation of Power” is especially important to companies, which describes why it’s important to diversify authority over the assets to more than one person or entity.

Participants will be equipped with a practical, step-by-step guide, templates and the knowledge to implement a secure storage and inheritance plan on their own. A certificate can be issued on request.

 

Requirements:

  • No previous understanding of cryptocurrencies and blockchain technology is required
More Information
  • Price: From R850 per person for group training with a minimum of 10 attendees
  • Type: Online with instructor or in-person, classroom-style
  • Duration: Flexible to suit clients requirements with an average of 4 hours, including short breaks
  • Certification: Attendees receive a Certificate of Completion at the end of the course if attendance was complete
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Module 1: Introduction

  • Definitions and background
  • A new asset class
  • Why you need to start preparing your plan today
  • Goals and risks of inheritance planning
  • Setting goals according to the SURE principle (Security, Usability, Resilience, Efficiency)

Module 2: Storage

  • Cold storage options
  • Physical vs digital security
  • Inventories, backups and passwords
  • Separation of power
  • Auditing backups
  • BIP38, BIP39, multisignature and Shamir’s secret
  • Institutional storage and custodianship

Module 3: Inheritance

  • Identifying clear inheritance goals and wishes, while staying secure
  • Code vs law
  • Dead man’s switch
  • Smart contracts for inheritance
  • Practical step-by-step guide for creating an access plan

Module 4: Legal

  • The existing legal framework
  • How to ensure you stay compliant
  • Crypto assets and wills
  • When to use lawyers and attorneys

Handouts

  • Letters and inventory templates
  • Step-by-step guide
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