Project Review: Safe Haven



Safe Haven is building asset management and inheritance solutions on the blockchain. This particular space is often overlooked, but with the growing adoption and acceptance of cryptocurrency, digital inheritance will become a critical technological need in the near future. Safe Haven has been around the crypto space since late 2017. Without much hype surrounding the project, the team has been working on building products and services, that solve real problems for their users, which led to a successful token sale in late 2018. Safe Haven Is built on the VeChain Thor Blockchain after switching from Ethereum.

What Problem does Safe Haven solve?

Safe Haven uses blockchain technology to make digital assets inheritable even when the initial holder of these assets is not around anymore. They have built a platform that can handle the inheritance and protection of their users crypto assets without locking them out, restricting any access or causing flexibility issues for token holders. With their solution, they are tackling a growing problem that every crypto investor will face at some point. It is in the nature of Blockchains to be immutable and unable to be altered without the direct permission of the private key holder. While this core principle enables high standards of security, it could also lead to an investor’s relatives losing funds if he were to pass away under sudden circumstances. Because chances are very high, he hasn’t told anybody where his private keys are. Due to the nature of Blockchain, Funds will be lost and unrecoverable. Safe Haven encrypts data and assets until predetermined conditions are met such as death, illness or other, and then grants access to these funds.

As we have mentioned in the introduction, Safe Haven is clearly focusing on solving a big issue here. However, one concern we have is the longevity of the project and the overall legality of their process in the long run. People will put a lot of trust in Safe Haven to continue their operations, customers need to have the assurance that the company is in it for the long haul and Safe Haven on the other side, needs stay on top of everything in terms of regulation and law in their field. This is certainly nothing that the team couldn’t solve, but it’s important to point out these risks. The importance of the problem Safe Haven wants to solve is real, and their solution seems very promising although there are some risks involved. Because of this, Safe Haven has expanded its product and service range during the last year, to solve other related issues facing the world of digital assets. We will discuss these solutions in the next section of this report.

Product and Vision

Safe Haven uses blockchain to establish digital trust between users, without the need for a central intermediary to track, verify and approve the digital exchange of value. Safe Haven will not directly transfer the fund to their user’s inheritors though. Instead, they will utilize several protocols and technologies to encrypt and decrypt the private keys into shares which can then be distributed among family/friends in a transparent and secure manner:

  • TFC Share Distribution Key, sets a establish a circle of trust within the ecosystem, this circle consists of all members permitted to take place in the transaction, they are holding the shares, later on, used to enable the distribution of the private keys.  TFC is basically a set of smart contracts that define rules, so digital asset shares can be encrypted and distributed to different people.

  • Escrow Protocol, the sudden loss of a shareholder (the intended heir) could be a problem if other relatives want to retrieve the complete passphrase. Key escrow allows a third party “under certain conditions” to access these shares.

  • Trust Alliance Network (TAN) (patented) allows SHA tokens to be extremely secure and inheritable, while still granting the investor liquidity and complete control over his or her funds as they grow in value. TAN will connect legal entities with crypto users through a separate platform, to help users complete the necessary steps of the process. Integrating real-world laws and regulations makes a lot of sense and will even be required in many countries. The verification of a third party while maintaining a decentralized nature and control of assets for the cryptocurrency owner, will be one of the more significant technological challenges that Safe Have is facing.

Shares can be seen as a piece of a puzzle and users are required to solve the puzzle with all of their shares to retrieve the private key after being validated by an assigned legal entity. There are two major entities in the network – The initiator, who is the one who wants to secure their legacy and The validator, the Legal entities selected by the initiator to complete the inheritance process through the Trust Alliance Network. On the downside, using TAN in the process adds a centralized aspect to the project through Lawyers being utilized and required to execute the smart contracts which we see could lead to potential complications regarding cryptocurrency laws yet to be globally recognized.

However, this still removes a lot of intermediaries and centralized aspects, especially with the option of utilizing the Business Continuity Plan (BCP) in which the initiator can choose whether to include the TAN or have the entire process completely automated. In addition to that, the core principle of having shares on the Blockchain will guarantee decentralization, independent from any outside choices the initiator makes.

Safe Haven is one of the projects, where utilizing Blockchain could really make sense. Removing intermediaries such as banks and other governing parties which will lower the cost of inheritance significantly along with increasing the security compared to non-blockchain solutions, even when using TAN, which adds aspects of centralization to the process, Safe Haven still removes a large portion of the intermediaries and centralized entities.

Additional Products and Services

Initially, Safe Haven started out in the Ethereum ecosystem and was primarily building their inheritance platform for digital assets. However, the team has expanded the vision to solve other related issues facing the world of digital assets, when switching over to VeChain. Safe Haven will build various products and services integrated with its platform under the term “crypto asset management.” Their products will target both businesses and consumers:

  • ThorBlock – management tool for pooled token funds

  • ThorPay – Payment processing platform

  • SafeWallet – Allows for storage of SHA and other VeChain-based tokens

  • Congruity – Peer-to-peer transactions using Escrow

  • SafeKey– Seamless and secure login credentials

  • An Open-Source Hardware Ledger that will support SHA

One thing that is very striking here are the branding similarities with VeChain Thor. The Safe Haven team is indeed helping build out solutions that the whole VeChain ecosystem can implement. This connection could open up doors for Safe Haven in terms of enterprise adoption, hence why they expanded their range of products and services.


In this report we will focus on Safe Haven’s 3 founders of The following information is retrieved from the team members LinkedIn Profiles.  Jurgen Schouppe is one of the Founders/Security Architect – Management of architectures securing the European Parliament, Founder of Soltronics – Network and Security Engineering. Degree in Electrical and Electronics Engineering. Logino Dujardin – Co-Founder/Account Manager – Co-Founder of Trust Alliance Network, Key account manager at Proximus and Sales Account/Team Manager at Orange. Educated in General Sales, Merchandising and Related Marketing Operations. Andy Demeulemeester – Co-Founder/Software Architect – Worked as Analyst Developer for b-inside bvba, Founder of shop4pets and Pixello. Experience as a Senior Software Developer and a degree in Applied and Industrial Informatics.

There are two partnerships we want to highlight here. First of all, Safe Haven partnered with VeChain when they made the switch from Ethereum. This partnership benefits Safe Haven greatly, as they now have access to an extensive business network, resources, and assistance from the VeChain team. The second partnership is with a VeChain ecosystem project in the blockchain gaming space: Plair. Plair utilized Safe Haven’s ThorBlock to execute their token sale and will also integrate Safe Haven’s wallet. Apparently, Safe Haven has been in talks with KPMG Cypress, Cypress’ SEC, and Invest Cypress, in late 2018, but there is no further information about this available.

Token economics: What is the SHA Token?

The tokens main use case is to fuel the whole ecosystem, acting as a service payment for the creation and execution of the 3 main smart contract types (just like gas fuels Ethereum smart contracts and transactions):

  • Fail Safe Shares

  • Contracts, Validator Shares

  • Contracts and Backup Validator Share Contracts

In this current model, all members of the ecosystem are interacting with each other and utilizing SHA in the process. SHA tokens will also need to be locked up, to join the TAN as a legal entity and to participate in the governance of the system. While tokens are locked, the circulating supply reduces increasing the value of SHA.

There is a total supply of  8.500.000.000 SHA. 39.5% Tokens were sold in the ICO (748M during the Private Round, 467M during the Public Round) 5% were sold in an initial generation event for $1.5m, 5% sold in a special auction raise in December 2017 for 425,000,000 ($0.007 each). 10% to community and media contributions, 10% to Advisors and Partners, 20% Enterprise and Tiel Partners. 10% Team and Founders, 10.5% research and development.

Personally, we are very excited to see more info about their masternodes and how and how that will fit into their current governance model. The introduction of masternodes could become a significant catalyst for SHA’s growth in the future, as it allows their community to actively support the project instead of just passively holding SHA tokens.

Growth potential and Roadmap

Safe Haven’s target market is the entire market of individuals and businesses wanting to secure digital assets and allow for inheritance through Blockchain. However, the scope of Safe Haven’s products and services goes far beyond the initial inheritance model. First of all, SHA does not only provide a solution for the cryptocurrency space but also for all kinds of other online accounts with passwords people might acquire during their lifetime. Safe Haven is also expanding into financial services, aimed at enterprise clients. The market size in cryptocurrency terms is potentially the entire market capitalization, after excluding institutional investors, who will use different custodial solutions, at least for now.

The most significant challenge in regards to Safe Haven becoming a big success will be gaining the trust of users in the marketplace. Trust is the key to their business model, and the main idea provides some risk when it comes to the centralized aspects and longevity of their business. Another crucial aspect would be to focus on the protection of privacy as it will play an increasingly important role in the handling of digital assets.

Currently, there are no competitors in the market who are offering the same scope of products and services for the protection of digital assets. There was some competition in the past. Namely, DigiPulse who is a cryptocurrency and digital asset risk management platform that has recently announced they will be leaving Blockchain. Digipulse has inspired Safe Haven with a list of what to do and what not to do, obviously resulting in several changes to Safe Haven’s business model and product range. We have no doubt that there will be new competitors emerging in this space, as the potential size of the market for Blockchain based inheritance solutions presents an attractive opportunity. Regarding their “asset management” products, Safe Haven will face stiff competition, this is where their connection to VeChain and the VeChain ecosystem will become useful or even necessary to succeed.

Some side notes on adoption and growth potential:

  • The Social media channels are active and have an organic and responsive community.

  • The Vechchain Thor partnership is significant in our view, not only because of high adoption potential, but along with the influence of Sunny Lu as an advisor, Safe Haven is putting itself in a very promising position for top exchange listings, marketing and exposure, which is necessary in order to gain traction  for their B2C products.

  • Safe Haven’s highly ambitious roadmap is packed with various products and milestones (TAN GUI launch and Alpha release SHP in Q4 2018. Beta launch of SHP in Q1 2019. Hardware integration and sale Q3 2019) However, they have already finished some of those, so it seems like they have strong momentum going and should be able to hit most, if not all, of their roadmap goals.


Safe Haven presents a unique concept addressing real and urgent issues with the inheritance of digital assets, not only in the cryptocurrency space.  The team offers a definite use case for the real world and the crypto space. The team looks like it has the necessary experience to pull this off, no stars but with all required expertise in place already.

However, it will be difficult to get mainstream adoption because most people will not trust an “unknown” platform. This alongside positioning themselves as a trusted asset management platform will be their big challenge in the month and years to come. Overall Safe Haven is looking like a promising project, the team has made some right decisions so far, and we believe, that the project has a chance to succeed in the future if they continue to deliver as they did so far.

SHA scored 57 out of 76 Points in our evaluation program.

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