FinalMessage: new application will help users pass on their Bitcoin when unforeseen events occur

Matt Odell and Murtaza Ali have launched a new bitcoin project called FinalMessage. FinalMessage acts a ‘dead man’s switch’ where users can deploy a vital message that is sent to their chosen recipient only if the user does not engage with the switch in control of the message for a certain amount of time.

The project uses bitcoin payments as the trigger mechanism for the messages, with support for Bitcoin’s lightning network to reduce the cost for performing the message.

The central idea behind FinalMessage is that users will be able to send 1 of their 3 bitcoin multi-sig keys to whomever in the event of an emergency. This would ensure that in the event of anything unforeseen their bitcoin would not be lost forever, as the recipient would receive the third key to access the Bitcoin.

When reached out for comment, Matt Odell stressed the importance of projects like his and the use of multisig, “Storing bitcoin securely comes with a number of tradeoffs, tools like ours should help to reduce those tradeoffs, hopefully leading to broader use of multisig by the community.”

All of the messages are fully encrypted in the users' browser before it is sent to their servers. By using a multi-signature key, even if FinalMessage was compromised and encryption failed, your bitcoin keys would still be safe.

Currently, for $50 per year, users would be able to extend their message, ensuring that the switch is not triggered, and the message is not sent in the absence of something unforeseen.

About Author

John has been involved in the blockchain/crypto sector since late 2013 and joined The Block Research in early 2019. He has expertise in crypto private markets and M&A activity. He also has a background in finance.