Five Methods to Protect Digital Assets

By CIOReview | Thursday, May 23, 2019

FREMONT, CA: The Digital Asset Management Platform plays a significant role in ensuring data handling and is critical to the brand built, ranging from shared images to video testimonials on the website. The misinterpretation of the data is currently high and leads to a situation where online information is accessible to hack into accounts resulting in a substantial financial loss or a mountain of trouble and stress. The following five significant advances can spontaneously store and enable access to digital information in case of customers passing away and minimizes data breach.

Creating a financial document: New legislations have been introduced to enable customers to develop a plan to protect digital assets that includes providing access to customer accounts for a financial planner or family member. With an estate planning attorney and new laws for protecting digital assets, a financial document can ensure that every aspect of a person’s property is accounted for. Digital security laws specifically require customers to state that their heirs have the rights to their digital assets upon their demise.

Storing accounts, usernames and passwords: Digital property planning tools are developed that enable customers to store information securely and allow their spouses to receive an email with information on how to access the accounts. 

External hard drive storage: An inexpensive computer-connected external hard drive can store data such as usernames and passwords and help in retrieving data whenever necessary.

Using a Password manager: Some password managers like Dashlane and LastPass are valuable tools that secure personal information for multiple accounts enabling “master password” and also alert owners when one of the accounts is susceptible to a significant data breach.

Letter of Instruction: A final low-tech way of protecting digital assets involves creating an instruction letter that provides essential information on hereditary accounts that allows access to all digital accounts.