In an earlier post I discussed the differences between DigiPulse and Safe Haven. However, there is also a third player in the space, originally christened as the MyWill Platform, which then later rebranded to MyWish to reflect the variety of contracts that can be deployed on their platform.
How does MyWish work?
Since we are focusing on digital asset inheritance I will only be focusing on what MyWish calls their "Will Contract". MyWish lets anyone create a "Will Contract" and the entire process is very straightforward.
One simply signs up for the service.
- click on the create a smart contract tab
- select Will contract
- name the contract
- enter your wallets address (currently only ETH)
- enter the inheritor(s) wallet address(es) and e-mail address(es)
- select how often you want MyWish to check the wallets activity and length of the contract.
- transfer funds to the smart contract
How is the token utilized?
WISH is similar to DGPT and SHA in that it is used as fuel for creating/executing the smart contract but dissimilar as there are no other uses currently. Eventually, WISH will also be used as a reward to users who successfully call contracts utilizing Joule. Joule is a smart contract, which allows you to register a call to any contract for a particular time.
The cost of each smart contract deployed with MyWish will vary depending on several factors.
- terms of the contract
- frequency of verification of contract conditions
- number of wallets (recipients)
- contract terms (including external services and oracles)
- MyWish service commissions
Current state of MyWish?
Live! Earlier this month they released Facebook/Google sign-up making it simple to sign up and setup your own "Will contract". As of this posting you are only able to add ETH wallet addresses but are currently working on adding BTC and NEO with full integration slated for Q2 of 2018.
How does MyWish compare to DigiPulse?
| MyWish | DigiPulse |
|---|---|
| Peer-to-peer | Peer-to-peer |
| Autonomous | Autonomous |
| Decentralized | Decentralized |
| Option to be anonymous | Option to be anonymous |
| Only able to pass on ETH assets | Able to pass on keys, passphrases, and anything digital under 1GB |
| Inheritor(s) need a ETH wallet address(es) | Inheritor(s) are not required to have any previous knowledge or ownership of digital assets |
| No staking or type of profit sharing | DGPS profit sharing + DGPT storage provider rewards |
Final Thoughts
While doing my research on MyWish I was rather impressed with their social media presence and their meaningful weekly reports their CEO Vladimir Tikhomirov posts on Medium. The updates provides a clear and concise progression on their platform and even beating deadlines such as implementing their Facebook/Google sign-up/in a few weeks ahead of schedule. That's not even mentioning their platform, which is simple and straightforward. A far cry from when they were known as MyWill and draped their website background with a lambo.
However, praise aside their "Will contract" is severely limiting in its capabilities. Currently, you're only able to pass on ETH(BTC, Neo, etc. coming soon) assets but the big sticking point for me is that your inheritor(s) need to already have an ETH wallet. The issue can be solved but involves some risk and 3rd parties. You can create wallets for them and then leave the information in a safety deposit box as I wouldn't leave private keys or anything crypto related in a traditional will, but laws vary state to state and country to country on how probate is carried out and can get litigious with executors and joint access safety deposit boxes.
This is where DigiPulse for me still wins against MyWish and previously compared Safe Haven. You can pass on anything digital (private keys, passphrases, seed words, etc.) and even instructions on how to download wallets, use exchanges, and other resources your inheritor(s) may find useful in accessing/selling/trading of stored assets. All without the fuss of lawyers and cooperation or possible lack thereof with family members.
DigiPulse: True peer-to-peer digital asset inheritance without limitations or third parties.
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