I have made a proposal like this. And I like to re-introduce again with improved preparation.
I was using multi-sig for the purpose but I have discovered that the method mentioned is inefficient compared with BIP44 compatible methods as people aware I would just sold away.
I believe, I need to use Coinomi’s new function to form a basic cloud as coinomi now supports sub-group for different purposes.
Some FAQ about purposed service
Need to backup very often?
Yesterday, I really needs to backup very often, But with BIP44 methods, Game is changed. We need to protect four things. The BIP44 methods, the word list used, the derivation methods and your passphrase, which never be exposed to others except the first three.
Let me show you one thing, Coinomi uses 15 words for the purpose, It now supports more than one account. 200 by 200 by 200 by 200 or even by MORE can be very headache for intruders if you protect your phrase carefully.
There is at least one mehancism ensuring the least chance to trigger the reused. I think I can use the BIP44 for the preparation.
How to ensure I can leave or stay?
Do you have GNUpg? If you have, Please tell me your public key. I think when ready, I will need to create one for telling you the key required. For some reasons, The validity of cert I used is generally not very long.
How long does that take?
To take part in, Each transaction needs at least 8 hours.
How to ensure the required combination is protected?
This will be protected by another strong password. If I had forgotten it, then I would have to re-enter again as I now need to care the passphrase more than the dumb wallet.dat, Of course, both should be protected well.
How many people can participant in?
For the first stage, 20 people
How to take part in? Messge me.
The title, some tags are modified because of typo.