Bequeathing the Blockchain Wallet in Public Blockchain Securing Wallet Sensitive Data

Adoption of blockchain application is exponentially increasing day by day. With adoptability of blockchain frameworks, users of blockchain wallets are in more than millions. Considering blockchain wallet which provide access to crypto-currency as property right, this research is focused on wallets whose user dies and the crypto-currency and sensitive data hold by the user get blocked after the sudden demise of the blockchain wallet user. We propose a scheme in which key can be generated to the nominee of wallet automatically after the demise of owner of the wallet. The novel algorithm uses Elliptic Curve Diffie-Hellman and Blind Signature (RSA based) for secure key exchange between owner and heir. Pederson commitment is used for verification after the demise of owner. After successful verification the wallet Initial private key is fully shared with heir using bip-32 solutions. This mechanism also proposes an arbitration solution for disputes over wills, and ensures the integrity of data, public verifiability, nonrepudiation, irreversibility of information, and the ability to resist counterfeiting attacks.