Understanding Demise Tracking and the Role of Endorsers

Learn about VerityVault's unique approach to handling sensitive situations and ensuring data integrity through endorser validation.

1. Understanding Demise Tracking

Demise tracking is a sensitive but crucial feature in VerityVault that ensures your digital legacy is handled with care and respect. When a circle member passes away, this system helps manage the transition of their digital assets and information to designated beneficiaries.

The process is designed to be both respectful and secure, requiring careful validation to prevent misuse while ensuring that legitimate requests are processed efficiently.

2. The Role of Endorsers

Endorsers play a vital role in VerityVault's security system. They are trusted members of your circle who have been given special privileges to validate important life events, particularly in cases of demise reporting.

Who Can Be an Endorser: Choose individuals who are close to you and trustworthy - family members, close friends, or legal representatives.
Responsibilities: Endorsers verify and confirm significant events, particularly demise reports, ensuring that such sensitive information is accurate.
Authority Level: Endorsers have the power to validate or challenge demise reports, adding an extra layer of security to the process.

3. Understanding the 3/4 Rule

VerityVault implements a unique "3/4 Rule" for validating demise reports, which helps prevent fraudulent claims while ensuring legitimate ones are processed efficiently.

How the 3/4 Rule Works:

When a demise is reported, it requires confirmation from 75% (3/4) of the designated circle members.
This majority requirement ensures that no single trigger such a significant event alone.
In addition to the above requirements, it is mandatory that atleast one of the confirming member is an Endorser.
The system waits for all required confirmations before proceeding with any automated processes.

4. Best Practices for Managing Endorsers

Choose Wisely: Select endorsers who are responsible and readily available when needed.
Maintain Balance: Have enough endorsers to ensure the 3/4 rule can work effectively (recommend 4-6 endorsers).
Keep Updated: Regularly review and update your endorser list to ensure all contacts are current.
Communicate Clearly: Ensure your endorsers understand their role and responsibilities in your digital legacy plan.

Comments & Feedback

Have questions, suggestions, or feedback about demise tracking and endorser roles in VerityVault? We'd love to hear from you! Please leave your comments below or contact our support team for assistance.