Blockchains are measured by network usage but are generally ill-prepared for wide-scale adoption. They focus on delivery of the use-case, but not on how this interacts with the real world, and what real-world users need to make blockchain and digital assets a viable alternative to fiat currencies.
The move from custodial/trusted entities (such as Banks, Financial Services companies) to a trustless ecosystem (you are responsible entirely for your own destiny) comes with trade-offs. Whilst you can’t have funds seized and your bank cannot collapse, you can lose your private keys and you do have to consider how your family or other beneficiaries will inherit your crypto-assets, and right now, it’s not all that straightforward.
Safe Haven is not a blockchain, nor does it intend to be one. It’s not decentralized (although some parts are) and it does not fit the ‘normal’ definition of something you’d associate with an ICO – but this is all part of the design. At face value, it would appear to be a somewhat boring and mundane use-case, but when you dig deeper into what they are trying to deliver upon, you understand just how important their end goal is and how wide the potential reach of their offering truly is.
The list of requirements is long for blockchain to truly take over legacy financial systems, and Safe Haven is building tools and products to address some of these.
If you’d prefer this file in a portable, digital format, you can download the PDF version by using the button below:
Safe Haven itself is a suite of protection products involving inheritance, investment pools and business continuity, some of which require a third party trusted entity to act as a notary in order to execute upon the protection offered. These third parties would be members of the Trust Alliance Network and hold a ‘share’ of an individual’s protection product that would allow them to reassign, either in full or in part, assets protected under the plan. The most relevant example here would be a probate lawyer dealing with the estate of a deceased individual, who must now distribute the proceeds to the relevant benefactors. A business counterpart to this exists for Business Continuity use.
The whitepaper outlines the technological processes and protocols that will enable this, including Key Escrow, Secret Sharing, Two-Man Rule and TFC Shares Distribution Protocol.
The Trust Alliance Network is a specialist social network/business directory that will match legal specialists in the crypto space with individual investors or enthusiasts and will serve as the entry point to the Safe Haven product. It will be free to register and use for trusted entities, however in order to list themselves as a service provider, an annual fee is payable, and a certain amount of SHA tokens must be locked up in order to use the Safe Haven platform.
The TAN will evolve to become a repository of relevant legal documentation and a wiki, as well as being a platform to facilitate discussion and publish content surrounding relevant topic areas to the Safe Haven products.
SHA is staked by Trust Alliance Network members in order to provide a service to TAN users, a fee is also payable for this listing.
SHA is locked up in time-locked smart contracts and released as per the terms of the contract once the inheritance protocol is initiated by a trusted party
SHA is distributed to Safe Node holders as part of a reward pool where fees from the usage of the platform are collected
Safe Masternode Programme and Governance
The Safe Masternode programme provides economic incentives alongside benefits within the platform to token holders who opt to support the ecosystem by holding a node. From Safe Haven’s news release relating to this programme:
With Safe Haven undergoing the next stage in its evolution, it is imperative for our brand to grow and offer advantages to all SHA holders; therefore, we created a pool monitored by the Safe Haven Government. This pool will collect fees from the Safe Haven platforms’ usage and API key integrations in other solutions we provide to our partners.
The fees themselves will vary from platform to platform and only a percentage of those fees will be collected within the pool. Each solution when formally announced will provide the amount it dedicates to the pool. The Safe Haven Government will distribute those fees on a monthly basis to all masternode holders based on their status.
The ancillary products Safe Haven are delivering will not only secure additional value for SHA holders but equally start to address the missing pieces a blockchain has in order to facilitate mass adoption – ThorBlock will facilitate node pooling, investment pooling and other communal funding and is the ecosystem equivalent of PrimaBlock. ThorPay will provide contract-driven payment distribution, and would come in particularly useful, for example, for payroll related services for a distributed workforce, leveraging the newly introduced Atomic Transactions Protocol (ATP). SafeKey will provide for Universal 2 Factor Authentication to add an additional layer of security to the platform.
An overview of the project’s lifecycle can be seen on the final page of the white paper. It can be found on page 48 and viewed here:
At the time of this writing, the roadmap for 2019 on the website is as follows.
Q1 2019 :
Launch new Safe Haven Website
Release Safe Haven Web Wallet
Release Masternode details + Governance Model
Masternodes Mobile App Release
TAN Release + Roll out Europe
BETA Release Inheritance Platform
Public API Integration ThorBlock
ThorPay Alpha Release
U2FA Fido Release + Integration in SH Inheritance Platform
Q2 2019 :
TAN Business Expansion United States
Business Expansion SH Inheritance Platform Europe
Start Development Congruity Platform, the Safe Haven OTC solution
Start Development Custodian Services
Onboarding Safe Haven verticals on top of our protocols
Expansion Development Team Cyprus
Start Development SafelD
BETA release SafelD
ThorBlock V2. integration of crowdfunding and charity options
Barriers to Adoption
As with any early project, there are key barriers to overcome, these are generally external factors, but need consideration from the team as to how they will be addressed. They are also not criticisms at all.
Liquidity – SafeHaven is currently listed on OceanEx and LAToken. LAToken, until very recently had minimal volume and a large trading spread, and from observation, the trade volume (which currently accounts for 60% of all SHA trade volume) is coming from a single liquidity bot. For all intents and purposes, this token is listed on a single exchange, and its volume on OceanEx is significantly weighted towards the SHA/VET pair.
Cannibalisation – as a VeChain ecosystem project where the majority of its ‘real’ trade volume is coming from OceanEx, it currently suffers from a highly speculative trading market, between itself, Plair and TIC. If one of the other two has either a fundamental or technical analysis driven catalyst, an observable shift of VET happens between those markets.
Blockchain support – the whitepaper alludes to this but does not cover in too much depth, but for this project to flourish, it needs to scale to support other blockchains. This is not to the detriment of VeChain, it’s just recognition that most investors will hold a number of assets, not all of which will reside on VeChain. As such, expanding to encompass Bitcoin and Ethereum (and associated ERC20 tokens) is a basic fundamental requirement for this very strong use-case to expand and grow.
Jurgen Schouppe – Founder & CTO SafeHaven
Logino Dujardin – Co-founder / CEO Safe Haven Foundation
Andy Demeulemeester – COO and Co-Founder at SafeHaven.io
Total supply: 8,500,000,000
Exchange rate Private Sale: 13.00SHA/VET
Exchange rate Private Sale 2: 11.36 SHA/VET
Exchange Rate Authority & Mjilnor Node: 11.36SHA/VET
Exchange Rate Community & Public: 9.09SHA/VET
Minimum Cap: 3,000,000USD
Maximum Cap: 11,160,203.65USD
39.5% of Tokens were made available across the various rounds above.
Community and Media
10% of the token supply will be used to reward our most dedicated community members for various contributions to the project. The remainder are allocated as follows:
Advisors and Partners
10% of the token supply is to be used as an incentives alignment mechanism for strategic partners, influencers and advisors.
Enterprise and Title Partners
20% of the token supply will be used for enterprise and title partners that we sign onto to the Safe Haven Platform. These partnerships will help to accelerate the platform forward.
Team and Founders
10% of the token supply is reserved for the core contributors. These tokens will be distributed based on a merit system and at the discretion of the foundation.
Reserve for Development
10.5% of the token supply will be reserved for future development of the Safe Haven platform.
The person who is utilizing the service.
The notary, or lawyer that interacts with the blockchain on behalf of the initiator.
The main purpose of Safe Haven is to offer custodial services in order to ensure the security of your key remains safe and distributed properly according to the terms laid out in your contract. Key escrow gives trusted participants the power to securely store your cryptographic keys until your prior conditions have been fulfilled.
In order to distribute your inheritance fairly so that the initiator’s wishes remain intact, the secret keys are split up between heirs and a validator must interact with the blockchain in order to recreate the actual keys to access the inheritance.
The Two-Man Rule ensures that no single party can access the inheritance alone prior to meeting the conditions set out by the initiator and in turn, this creates a mandatory setting to cooperate with the other key holders and validators. Because of this, no single person can access inheritance alone.
TFC (The Family Circle)
The Family Circle is a conglomerate of members belonging to a group; this group can include family members, a company’s group of stakeholders of trust, or simply a circle of friends. The TFC SDP is a protocol developed by Safe Haven in order to establish a circle of trust in our ecosystem.
TAN (Trust Alliance Network)
The Trust Alliance Network (TAN) is made up of legal entities who have a secure relationship with Safe Haven. They interact with the initiator and the platform in order to perform the services Safe Haven has set out to build. The TAN also acts as a social network that is compromised of interested clients, legal entities who are writing articles and offering their services, as well as many legal documents uploaded from every country and region that deal with these matters.
BCP (Business Continuity Plan)
The Business Continuity Plan (BCP) is similar to TFC, but it interacts with shareholders instead of heirs. The initiator can also choose whether to include the TAN or to keep it completely automated.
The Investment Circle
The Investment Circle is for those willing to create a fund amongst friends, family members, or business stakeholders.
Safe Haven Vault
Safe Haven Vault is a way to register your crypto keys, seeds, and passwords on Safe Haven’s blockchain. Should some unfortunate event happen to the client they can then be passed on to the person of their choosing, and there is even the option to transfer the shares to another user on the platform.
Time Locked Smart Contracts
SHA tokens are locked up for specific periods of time inside smart contracts in order to allow individuals and institutions to employ the advanced features that Safe Haven offers.
A variety of options can be chosen in order to cater to client needs. These choices provide flexibility not seen anywhere else within the industry.
SHA is trading at the following exchanges, listed by volume (as of March 8, 2019):
LAToken SHA/ETH $143,351
Oceanex SHA/VET $75,296
Oceanex SHA/BTC $22,093
We highly recommend reviewing this article, created by The Emberworks:
This report was compiled by analysts at SharkCIA and produced for informational purposes only. It is not investment advice and should not be considered as such. Investment in cryptocurrencies comes with risk, and you should consider professional advice as to whether investing in cryptocurrencies is right for you. Under no circumstance should this report or information contained herein be reprinted or reproduced without the express written consent of an official SharkCIA representative. SharkCIA were not compensated, directly or otherwise, to produce this document.