The Critical Need for Digital Vaults in a High-Tech World

Managing and protecting important information has become more complex in an increasingly digital world. Recently, on Death and Dying in the Digital Age, host Niki Weiss interviewed Glenn Shimkus, a pioneer in digital documentation and founder of Prisidio, a digital vault platform. With over two decades of experience in helping companies manage sensitive information, Shimkus brings valuable insights from his journey at DocuSign, where he witnessed the transformation of how we handle important documents. His current venture, Prisidio, aims to solve a critical problem in our digital age: how to securely store, manage, and share our most important information.

About This Blog

Managing and protecting important information has become more complex in an increasingly digital world. Recently, on Death and Dying in the Digital Age, host Niki Weiss interviewed Glenn Shimkus, a pioneer in digital documentation and founder of Prisidio, a digital vault platform. With over two decades of experience in helping companies manage sensitive information, Shimkus brings valuable insights from his journey at DocuSign, where he witnessed the transformation of how we handle important documents. His current venture, Prisidio, aims to solve a critical problem in our digital age: how to securely store, manage, and share our most important information.

Research shows the average person has 100 online accounts. While another study states the average consumer owns 5.3 financial accounts. It is more important than ever for a person’s digital accounts and assets to be organized in case of an emergency. 

The Evolution of Information Management in the Digital Age

How we store and manage important information has changed dramatically over the past few decades. Where our grandparents could keep everything in physical files and safety deposit boxes, today's reality is vastly different. With an average person managing over 100 online accounts, dealing with a mix of physical and digital documents, and facing increasing cybersecurity threats, the need for secure digital storage has never been more critical.

The challenge isn't just about storage – it's about accessibility and security. Traditional methods of sharing sensitive information, such as emailing or texting, are surprisingly insecure. Yet, in moments of crisis or emergency, quick and secure access to important documents can make all the difference.

This shift in information management has created a new problem: digital archaeological digs. When someone passes away or becomes incapacitated, loved ones often become digital archaeologists, searching through various accounts, devices, and platforms to piece together important information. According to Shimkus, states hold over $70 billion in unclaimed assets, which continues to grow as our digital lives become more complex.

Understanding Digital Vaults: More Than Just Storage

A digital vault is far more comprehensive than a simple cloud storage solution or password manager. It's a secure digital space designed to organize and protect four key components of our lives: people, places, things, and documents.

The people component includes important contacts who know about or manage aspects of your life – from family members to financial advisors, doctors, and lawyers. Places encompass both physical locations (like safety deposit boxes or storage units) and digital locations (such as online banking portals or cryptocurrency wallets). Things include financial assets and items of sentimental value, while documents cover everything from identity papers to insurance policies.

What makes digital vaults unique is their ability to create connections between these components. For instance, a cryptocurrency investment can be linked to its digital wallet, which connects to documentation about accessing said wallet, creating a complete picture for those who might need to access this information in the future.

The Urgent Need for Digital Organization

Here are the key reasons why digital vaults have become essential:

1. Natural Disasters and Emergencies

   - Increasing frequency of severe weather events

   - Need for quick access to insurance and medical documents

   - Ability to access crucial information from anywhere

2. Aging Population

   - More people over 65, than under 16, within the next five years

   - Growing complexity of medical and financial documentation

   - Need for secure information sharing with caregivers

3. Digital Asset Protection

   - Rise of cryptocurrency and digital investments

   - Growing number of online accounts and subscriptions

   - Risk of lost or inaccessible digital assets

Making Digital Organization Manageable

The key to a successful digital organization isn't trying to do everything at once. Modern digital vaults employ a "tiny habits" approach, allowing users to build their digital archive gradually through small, manageable actions.

Mobile accessibility plays a crucial role in this process. Rather than waiting to sit down at a computer to document important items, users can capture and catalog information in the moment using their smartphones. This immediate action prevents important tasks from being postponed and eventually forgotten.

The workload can also be shared securely with trusted individuals. Professional advisors, family members, and other key people in your life can contribute to building and maintaining your digital vault, all while you maintain control over who sees what.

Taking Action for Peace of Mind

The digital age has brought incredible convenience but also new responsibilities. Creating a digital vault isn't just about preparing for the worst – it's about having peace of mind today. Whether accessing vaccination records during an evacuation, sharing insurance information with a teenage driver, or ensuring family members can access important accounts in an emergency, a digital vault provides security and accessibility when it matters most.

Your Digital Vault. For Life.™ 

As our partner, Prisidio is offering our subscribers a discounted digital vault. Getting started is easy. Protect what you have with a digital vault from Prisidio. Start your 30-day free trial today and secure a lifetime discount! 
If something happened to you, would the people in your life know what to do? Don't leave your loved ones in the dark. Start developing your end-of-life and digital legacy plan. Download My Final Playbook App on the App Store and Google Play to get started.

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