STORY
Transcend Pitch
AUTHOR
KarnageKarnage
Joined 2022.10.24
PROJECT
TranscendTranscend
DATE
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Transcend Pitch

What is your project? What problems is it looking to solve? (USP & PMF)

Our project is Transcend. We were 1st place winners in the recent Bitcoin Designathon (under the title "Passing the buck"

Transcend is one of the solutions to the difficult Bitcoin inheritance topic.

Problem: People may have a hard time passing bitcoin to their heirs because not everyone is as passionate about bitcoin as bitcoiners.

  1. Heir(s) may not know they have a bitcoin inheritance if nobody notifies them (have to rely on written documentation)

  2. Heir(s) may not know or care about bitcoin, and discover too late after the hardware is disposed of.

  3. Heir(s) may not be technical enough to understand or use Bitcoin, even if they inherited some.

  4. Heir(s) may not understand Bitcoin on a level required to continue valuing it.

  5. Having all the bitcoin in one place may be difficult to distribute to multiple heirs with rocky relationships.

Solution: A non-custodial inheritance distribution app with pre-defined plans that automatically execute when a person dies.

Basic functions:

  1. The app consists of automatic distribution or "message only" plans.

  2. Activated via a dead man switch (if a person does not reply to an automated message, the switch flips and the plan is activated). We account for missed notifications too.

  3. The bitcoin never leaves your cold storage until time comes.

  4. Automated distribution is optional, you can also just send messages with instructions.

  5. Transactions are pre-signed and only occur when the plan goes into effect.

  6. Fail-safe and error prevention mechanisms (a work in progress that requires additional research).

Lightning Functionality

We’re exploring using the Lightning Network for micro-payments for each Proof-of-Life message/signature, so that the service can be self-sufficient.

Who built it (team) and how? What specs, languages, and tools did you use?

The project is currently in design-only phase. We need help from a developer(s) to make it a reality. We're seeking a grant(s) to continue this work after the tournament.

Our team consists of 2 people, Michael Haase (Twitter, LinkedIn) and Gene (Wrecktangle)

What are the next steps on your project’s roadmap?

  1. File a designer grant proposal - we need more capacity to focus on this topic.

  2. Find support from developer(s) and or architect to help with the technical feasibility and build out an MVP.

  3. Further research into fail-safe mechanisms, error and scam prevention, as well as decentralization.

  4. Testing, lots of testing.

Quick links to your product, website, demo, #BuildInPublic stories, etc.