 Hi everyone, it's MJ the fellow Actree and in this video, I want to talk about mortality risk and crypto Now Actrees were no strangers to mortality risk In fact, it was the very first one that we dealt with back in the 1700s Where we had to calculate how much money do we need to set aside in order to take care of the children and Dependence when a breadwinner dies and that's where the whole life insurance industry kind of came forth from Now the thing is we might have managed mortality risk when it comes to dependence But death is still present and it is something that is going to be haunting the crypto world Of course crypto is still fairly new So it's something that's not on everybody's horizon but there have been instances where people are holding Significance amounts of crypto and then they pass away and Well, they're the only ones who have access to these crypto tokens And what kind of happens in the situation? Now, I think Exchanges have a way to to get around this in the sense that I think some of them if you had to read those terms and conditions Which let's admit very few of us actually do But I'm sure some of them will have terms that say that if you do not access your account within five years It's seen that you have abandoned your tokens and that they can then claim it And I think if they don't have a term like this They're being silly because otherwise they're gonna have a mountain of crypto that they Legally cannot touch because it belongs to somebody else So they'll need that term and condition so that if people do die and nobody claims the crypto that money then goes to the exchange So that's how exchanges can deal with mortality risk of their clients But how can us as individuals deal with this mortality risk now? You could go and provide a whole set of instructions to a loved one and say hey if anything happens to me This is how you access my crypto the problem with that is sometimes They say you know divorce is coming up or or some family issues that loved one could say hmm Let me just go in and reach into this crypto wallet while you're still alive So while mitigating for the death risk you do introduce a significant counterparty risk So and that's always the big thing with risk management is if you deal with one risk Make sure you're not introducing another So I kind of thought of this idea and gosh, you know, someone's probably already thought of it as well So I do apologize if there's something out there that is very very similar But I was thinking imagine if they created a crypto wallet that had two keys So the first key is your primary key and this works like, you know All the other crypto wallet keys work that you can use it you can access your crypto You can spend your crypto transfer it do what you want If the second key tries to unlock it It's not going to work unless a significant period of time has occurred Which the primary setter can set or the primary key holder can set So what this means is I can say look there's two keys to access my wallet the primary key Which is the one that I use the one I keep secret and I'm gonna take this knowledge to the grave But then there is the secondary key that can only unlock my wallet if a Significant time duration has occurred and I could maybe set it at six months two years five years Okay, ten years would probably be a bit excessive But you can set this delay so that the secondary key can access your wallet Only if the account has been inactive for a certain duration So it's kind of like a bit of a time lock and what will then happen in this case is that if you were to pass away Somebody else can access your crypto, but while you're alive while you're active They cannot touch the money that you have in that account. So anyway, that was just me thinking about how to Potentially deal with mortality risk and crypto I'm keen to hear your guys ideas So let me know down in the comment section below what you think not only of this idea But if you have any other ideas on how to get around this issue as always Thanks so much for watching and I'll see you guys soon for another video. Cheers