kaal:claim:3936876-010

A private key differs from a password in that it is immutable and cannot be reset, so if the key is lost or stolen access to the digital asset may be permanently lost.

However, private keys are distinguishable from a password in that a private key is immutable – it cannot be reset.82 If a user loses their private key or if the private key is stolen, access to the digital asset may be lost.

Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021), II.2 Custody Requirements for Digital Assets, p. 15
https://ssrn.com/abstract=3936876 · source PDF

Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876

• applies to key based digital asset ownership on public blockchains

failuresupport: arguedfailure: irrecoverable private key lossfamily: custody-and-key-lossinstitutional-design

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