Russian specialists are developing a new “time capsule” which would allow users to transfer digital data to their heirs, including crypto keys. The service will be capable of storing and relaying other private information as well such as a record of the whereabouts of valuable items.
Experts from Lomonosov Moscow State State University, National Research Nuclear University, and Moscow State Institute of International Relations are collaborating to make sure crypto-assets of the users are not lost when they pass away. Russia’s National Technology Initiative Platform states that the “time capsule” will be built on blockchain technology.
According to project manager Dmitry Izvekov, “the united team is presently constructing a website via which users will be able to store valuable information, encrypted and ready to be transferred to the possession of selected persons.” This is only possible if specific requirements are met.
Subscribers will be able to use the Russian time capsule to also keep photographs, text files, video messages, and even location details for valuable items. These can be passed on to heirs in case of an unexpected death, for example. A user will have to send a link to a chosen recipient who must set up their own account in order to gain access to the information. The time capsule will open only on a pre-specified date in the future.
The encrypted data will be stored on Sbercloud, developed by Sberbank, It will be backed up on Dropbox and other platforms. Each user will be allowed to send two capsules free of charge. The creators hope to raise up to 3 million rubles (around $40,000) to finance the project and monetize the service as soon as it gains popularity and offers additional services.