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Finally, let me mention the application of digital heritage. When the old man is alive, of course, he hopes to have full control of his own property. Once the password is handed over to his descendants too early, he may be taken to gambling by the unscrupulous child and lost all night. However, if the password is not handed over in time before death, the digital property may be taken to the coffin. Many digital assets have similar problems, but Bitcoin provides a solution.
The simplest scenario is, for example, the 2/2 mode. The old man has all two private keys, and one of them is handed over to his son, and the other is handed over to a notary office or a notary public. If the old man passes away, if he fails to hand it over. Private key, then you can apply for a notary to hand over the inheritance. Before that, unless the son colluded with the notary, neither of them could use the money.
to sum up
The scenarios outlined above are relatively rough and simple, and of course there will be more flexible and richer styles in specific practice. In all scenarios, the meaning of multi-signature is nothing more than the meaning of Bitcoin itself: freedom, transparency, and decentralization. By imposing restrictions on the abuse of power, multi-signature technology makes power and responsibilities more clear, allowing everyone to control and precisely control the power he should control.