safety deposit box in base scenario
veilgets opened this issue · comments
gets commented
Context
Currently the base scenario suggest the smart custodian to store all backups of their seed phrase in a safety deposit box
problem with current approach
Safety deposit boxes are not foolproof[1], [2], [3] and are not FDIC insured[4].
solution
the base scenario should in my opinion include at least one of the following suggestions:
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obtain proof of safety deposit box contents & value and get some form of insurance.
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have a second safety deposit box for redundancy.
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consider alternatives for having a backup of instructions for heirs in the safety deposit box in case of theft.