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What is the digital vault and how does it work?
What is the digital vault and how does it work?
Martin Pickrodt avatar
Written by Martin Pickrodt
Updated over a week ago

Understanding the Digital Vault: A Secure Way to Manage and Pass on Your Legacy

The digital vault by Teleskop is a cloud-based repository designed to securely store and manage the information about your assets โ€” financial, non-financial, and emotional. This innovative feature is tailored to ensure that everything from important documents to heartfelt personal notes is preserved and, when the time comes, passed on exactly as you intend.

What is the Digital Vault?

The digital vault acts as a comprehensive storage solution for a wide range of information related to your assets. This includes any file attachment that you attach to your assets as well as important documents that can be kept in a general section. The vault is not just about storage; it's about ensuring that each asset can be tagged to specific recipient. This means you can specify exactly who receives what information, maintaining control over the distribution of your legacy.

How Does the Digital Vault Work?

File upload

For each asset that you capture during the aggregation you can add important documents and files that are relevant. The vault page also has a general section for document that are generally important. That could be your Will, power of attorney or letters to loved ones.

Encryption

All documents are encrypted on your device before they are being transmitted to Teleskop for storage. For this purpose you will set up a specific vault pass phrase that generates the encryption keys. You will require this pass phrase whenever you are using a new device or browser to enable the encryption on your device.

Please store the pass phrase well and in a manner that you can find it again. It is different from your password to access the system itself. The passphrase cannot be reset.

Tutorial on how to set up your vault is here.

Asset Tagging and Recipient Designation:

Within the digital vault, you have the flexibility to tag each asset to designated beneficiaries. This feature allows you to specify who receives which information. The tagged recipients, however, will only be informed about these assets under specific conditions, ensuring privacy and adherence to your wishes.

Lifebeat Function:

The Lifebeat function in Teleskop's digital vault is an automated safety mechanism designed to ensure that information about your assets is securely transferred to the people that you nominate at the time when it is needed - and not before that.

Lifebeat operates by requiring periodic check-ins from you; if you fail to respond to consecutive prompts, the system assumes you may be incapacitated, and it activates protocols of releasing the information as defined by you. Before the release, we will check in with your Trusted Angels to confirm that the release is necessary. This function allows you to distribute the information without the designated individuals necessarily knowing about this today.

Unlike the Multi-key access, the Trusted Angels do not have to act to receive access to the vault, the release is automatic and only dependent on time since last interaction.

More details on how the Lifebeat function works are here.

Angel Access (coming soon)

Teleskop's Angel Access function enhances the security and integrity of your information transfer by requiring multiple designated individuals, known as Trusted Angels, to collectively authorize access to the digital vault. This collaborative security feature ensures that no single person can unilaterally make decisions or access sensitive information, thereby implementing a robust system of checks and balances. By necessitating a consensus among Trusted Angels for vault access, the Angel Access function minimizes the risk of unauthorized use and enhances decision-making transparency, making it an ideal solution for managing significant assets or sensitive information in a secure and controlled manner.

Unlike the Lifebeat function, there is no waiting period required.

You will be informed immediately in case Angel Access has been triggered.

Trusted Angel and Recipients

For seamless execution of your intentions, the digital vault allows you to appoint a 'Trusted Angel'. This individual will have full access to the contents of your Teleskop account, including all detailed information and directives, such as your will, if stored. The Trusted Angel is often tasked with overseeing the execution of your legacy, ensuring that your beneficiaries receive what you've designated without complications.

Recipients can be tagged against specific assets or documents. A recipient will only receive access to information that they have been tagged against and nothing else.

Personal Touches

The digital vault also supports the addition of personal notes and memories associated with specific items. Whether it's a piece of jewelry handed down through generations or a piece of art with a special story, you can attach notes explaining the significance and your emotional connection to these items. These personal touches can be tagged to specific loved ones, adding a deeply personal aspect to the inheritance process.

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