DigiPulse CTO Dmitry Dementyev-Dedelis, CEO Normunds Kvilis and Project Manager Jānis Zaltāns at The ICO Event in London
DigiPulse the world’s first ‘digital cryptocurrency vault’, which provides an inheritance service for digital assets, has reached the $1million mark in an Initial Coin Offering (ICO) which ends on 31 October 2017.
The new brand empowers customers to safely secure and pass on their digital assets to those they care about, when they pass away.
These assets can include cryptocurrencies, digital images and other documents.
Co-founder and CTO of DigiPulse, Dmitry Dementyev-Dedelis, first saw the potential for DigiPulse when he encountered health issues and realised that, if he were to pass away, his family would be unable to access his digital wallet. His cryptocurrency assets would be effectively lost.
DigiPulse solves this very important issue by allowing its users to store and encrypt information on their own decentralised blockchain.
Normund Kvilis, the firm’s CEO and formerly an analyst in a leading Scandinavian bank, said, “The idea behind DigiPulse is that we are addressing one of the major flaws that cryptocurrencies themselves have, which is that in order to use cryptocurrencies you need to have a digital wallet.
“Cryptocurrency wallets consist of a public address and a password. If you lose either one of them, your assets are stuck in internet limbo. We offer, firstly, a way for you to pass your assets on, with an inheritance service, and secondly, a failsafe solution – in case your PC gets lost or your house burns down. You can still access everything that you have stored.
“The system is based on smart contracts on the Ethereum blockchain, which are put together on top of our own blockchain which encrypts and stores the data in small chunks so it is practically impossible to hack.
“We are seeing a great deal of support from the crypto community because they are in need a product like this. As people begin to use cryptocurrencies for a broader range of applications and hold significant crypto assets for investment, we must ensure that their families receive their belongings if the worst does happen.”
The DigiPulse system uses what is often known as a ‘dead-man’s-switch’, in connection with the customer’s smartphone, social media account or emails. If these are not accessed for the agreed period of time – between one day and 18 months – DigiPulse will automatically contact the rightful inheritor.
If the customer chooses to remain anonymous, there is no requirement for them to share their details and the system can work by tracking activity by their digital wallet.
The DigiPulse team is largely based in Riga, Latvia, with connections around the globe.
DigiPulse tokens (DGTP) are sold at a fixed price (with additional tier bonus rewards) of 0.004 ETH (1 ETH = 250 DGTP) and the sale will continue until October 31 2017.
Normunds Kvilis and Dmitry Dementyev-Dedelis are available for interview on request.
DigiPulse is a subscription based SaaS platform that allows to store and encrypt information on the DigiPulse blockchain and make it inheritable (only accessible to the specified recipients).
Normunds Kvilis, Co-founder & CEO
Prior to focusing on DigiPulse, Normunds acquired a master’s degree in economics and was an analyst in a leading Scandinavian bank, focusing on financial market analysis and investment opportunities. Later, he took on the role of an IT project manager, with the focus on leading developer teams towards a bank merger. Cryptocurrencies have been on his radar for quite some time and as investor focus is starting to shift toward this investment tool, also new problems and opportunities arise.
Dmitry Dementyev-Dedelis, Co-founder & CTO
Before the idea of DigiPulse and the fact that we spend half of our lives online with all the assets and valuables stored there, Dmitry was working in the fundraising sector for universities. By understanding the logic behind alumni giving and gamification, and seeing it from the IT perspective, he has gained the knowledge to merge these two worlds together – digital realm and real-life behaviour. To gain more in-depth knowledge about people’s behaviours and their cognitive processes, he is currently managing a part-time BSc in the field of Psychology.