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title: "Problem: Imagine that you owned some crypto, and you wanted to gift…"
date: 2021-03-06
source: facebook
type: Archer T. Ships updated his status.
---

# Problem: Imagine that you owned some crypto, and you wanted to gift…

*March 6, 2021 · Facebook*

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Problem:\
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Imagine that you owned some crypto, and you wanted to gift it your child. (Let\'s call the child Alex.)\
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How can you leave the money to Alex in such a way that:\
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- the wallet would survive even in the case of fire, flood damage\
- the kid can\'t unlock the wallet until they turn 18\
- the kid can\'t unlock the wallet unless trusted guardians believe they would use it responsibly\
- optionally, allow ownership of the wallet to be irrevocably transferred to someone else (in case Alex also dies before turning 18)\
- limit the ability of corrupt guardians from spending the money themselves\
- no institutions (law firms, government) are involved\
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Solution:\
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Divide up the funds into multiple Monero wallets. Lock each wallet with six keys (using Samir\'s Secret Sharing algorithm):\
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Owner\'s key: the person who can spend the money if the wallet is unlocked.\
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Five guardian keys: five keys distributed to five different people.\
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The person with the owner\'s key can spend the funds from the wallet if it\'s unlocked. However, they can\'t spend the money until it\'s unlocked.\
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The guardians would not be able to spend the money without the owner\'s key. But they can unlock the wallet.\
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Store multiple copies of the wallets in multiple places (internet archive, [forever.com](http://forever.com){target="_blank"}, usb sticks in safes, etc)\
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Give the kid a cryptosteel with a copy of their key for each wallet.\
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Give each of the guardians a cryptosteel with a copy of their keys.\
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Choose different sets of guardians for each wallet. That way, if the kids/guardians lose their keys, or the guardians become corrupted, only the contents of that wallet are lost. Or the guardians disagree about whether the child is responsible enough or not.
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