BlockchainCommons / BlockchainCommons/SmartCustodyWhitePapers
safety deposit box in base scenario
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Description
### Context
Currently the base scenario suggest the smart custodian to store all backups of their seed phrase in a safety deposit box
### problem with current approach
Safety deposit boxes are not foolproof[[1]](https://nltimes.nl/2018/03/09/millions-stolen-rabobank-safety-deposit-boxes-report), [[2]](https://www.losaltosonline.com/news/sections/news/216-latc-sections/community-archive/1009-J195), [[3]](https://www.nytimes.com/2019/07/19/business/safe-deposit-box-theft.html) and are not FDIC insured[[4]](https://www.fdic.gov/consumers/consumer/news/cnwin18/fivethings.html).
### solution
the base scenario should in my opinion include at least one of the following suggestions:
1. obtain proof of safety deposit box contents & value and get some form of insurance.
2. have a second safety deposit box for redundancy.
3. consider alternatives for having a backup of instructions for heirs in the safety deposit box in case of theft.
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