Write Your Own Will on the Blockchain, Will Ya?

hungrypb (72)in #eternitas • 5 years ago

Current Inheritance Solutions are Flawed

Where would your passwords go to when you die. Apart from physical assets, we all have digital ones as well. There are serious problem in Will execution in today's world since there are third parties involved.

Will executioner or lawyers cannot assure you to perform required distribution of your digital funds, crypto accounts, passwords and life achievements stored in a computer or a server. How do you ensure if your assets are in safe hands that are safer than yours? Well, blockchain is the solution.

Solution

Eternitas founded by Dr. Milosz Matuschek, is an award-winning French-German startup, developing blockchain-based solutions for estate planning. One might die but their Will stays on the chain forever.

They have partnered with Contract Vault in April, 2018 for the smart contract-based implementations of last wills.

Source: Contract Vault & Eternitas Announce Partenership

Execution of your will on a given life event or date would happen as per the stored settings during the preparation of digital documents. Smart Contract code will trigger the execution when the event arrives.

Why you need Eternitas?

Those who do not think about leaving their Will might face problems during their last days and conflicts would happen among the family members and friends. You need Eternitas for the following reasons:

Legal intermediaries cannot be trusted. They can easily manipulate papers and your assets since they have access to all you Digital Assets. They can also collude with family members or friends and get away with a different version of your Will.
Current Will Solutions take time and you get into various procedures/documentation to implement your estate planning. Whereas Eternitas is providing a fast and cheap method which doesn't not require third party intervention.
Since it's on the blockchain, no human can manipulate or hurt your Will. No Will executor (individual or firm) is involved. It's keeps you safe and your family members satisfied because everyone would get what you wanted.