Bitcoin inheritance tool to use cloud service by Russian Sberbank

Bitcoin inheritance tool to use cloud service by Russian Sberbank

The Bitcoin blockchain is designed to allow users to store, transfer, and exchange virtual currency, according to the official website. As Bitcoin is growing in popularity, so are the services that help users to protect their virtual wallets. This is why Russia’s largest bank Sberbank has launched a new service, which allows users to store Bitcoin wallets in the cloud, and makes it possible to transfer Bitcoins via the bank’s payment system.

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If you are looking for a way to start an inheritance in your country with your bitcoins, you are welcome to try the recommendation of the Russian Sberbank. The introduction of the service “Bitcoin Inheritance Tool” is made as a result of the request of the customer. Service “Bitcoin Inheritance Tool” provides the means of creating and managing Bitcoin and Bitcoin Cash accounts. It will be possible to create and transfer assets in the form of bitcoins and bitcoins.

The recent arrest of a Russian national for allegedly running a botnet that minted millions of dollars from digital currency mining has potentially serious consequences for the cryptocurrency community.  The exchange is a Russian-based internet banking platform targeted by the Russian Federal Security Service (FSB) and the Federal Tax Service, both of which have admitted that they are looking into the matter.

Bitcoin inheritance tool to use cloud service by Russian Sberbank


A group of Russian specialists is developing a new blockchain-based service that will enable users to pass on their bitcoin holdings and digital rights to their children.

According to local news source RIA Novosti, Russia’s National Technological Initiative (NTI), a worldwide technological leadership initiative, has unveiled a new digital inheritance tool based on blockchain technology.

Experts from three local institutions, including Lomonosov Moscow State University, National Research Nuclear University, and Moscow State Institute of International Relations, are part of the project.

According to the NTI, the service, dubbed “Time Capsule,” would enable users to save digital data and assets such as social network passwords and Bitcoin wallet keys. According to NTI officials, the service would also enable the transmission of other digital assets such as pictures, texts, videos, and geographical data.

Dmitry Izvekov, the project manager, said the working group is now developing a website that will enable users to keep their digital belongings in encrypted form until they are ready to be handed to certain people on a specific date. Izvekov said that the transfer of this information is only possible if specific criteria are fulfilled, and that it takes effect no sooner than six months after the data is posted to the website.

The expert panel intends to keep the encrypted digital inheritance data on SberCloud, a cloud-based service operated by state-owned Sber (previously known as Sberbank), Russia’s biggest bank, according to the article.

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Users will be able to replicate data using cloud services such as DropBox, according to the study. According to reports, the project’s founders want to collect up to 3 million rubles ($40,000) to fund the effort, with the goal of monetizing the platform if it becomes more popular and provides more services.

Tinkoff’s CEO claims that Russian central bank regulations prevent the company from providing cryptocurrency trading.

Despite the fact that Sber’s cloud-based platform is anticipated to be engaged in holding digital assets such as Bitcoin (BTC) as part of the initiative, the country’s biggest bank is not a huge admirer of the cryptocurrency. Sberbank CEO Herman Gref said last month that, alongside the stock market, cryptocurrencies like Bitcoin are arguably the riskiest form of investing. Sber had intended to open a cryptocurrency exchange via its Swiss subsidiary in January 2018, as previously reported.

Sberbank of Russia came up with a new bitcoin-related service that can help you plan your inheritance. The tool supports bitcoin and Litecoin and offers a full range of services for digital currency users.. Read more about why is cryptocurrency valuable and let us know what you think.

This article broadly covered the following related topics:

  • sbercoin
  • stablecoin
  • who runs bitcoin
  • when to buy bitcoin 2021
  • why is cryptocurrency valuable

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