What happens to your assets when you die?
How confident are you in the execution of your last will after you have left?
Eternitas.io is a fresh blockchain project that aims at digitally distributing your will safely,cheaply and quickly.
MIlosz Matuscheck who is a lawyer specializing in IP/IT founded eternitas.io in 2017 and slowly eternitas has been developing together with the support from the people as well due to the major problems this project is tackling.
This initiative will be registered and go live around September 2019.
Check out his twitter and for his updates and agenda.
Blockchain together with eternitas is a revolution to uplift trust and convenience and in this case it enforces execution of the legal history commands even after a very long time.
The problem with the traditional will management systems is that, they can be manipulated in very many ways due to the loose information, minimal proof of will, unclear information, changing of will by some parties in control. People are always looking out for the slightest opportunity to steal money, these can be friends, business partners, family members or the people in charge of your will. These conflicts can't be entirely eliminated, you can only minimize them by being transparent as possible.
The main problem here is you totally lose control of your assets after you have died, which is exactly the main concern.
Eternitas.io establishes a smart contract that is executed accurately with out you because you would be dead, but you would technically execute an after life will distribution after all.
For the proof of death public registers, data from cemeteries, insurance companies and from judges can be used.
This solution is majorly approached by allowing every author of the will to also become their own executor of the will.
every author of the will also becomes his own executor . So we offer control over the assets beyond death
**What makes eternitas such a unique initiative?**
Everyone can be able to create a legal will then store it safely and findable with a smart contract enforcement.
No single human is needed in the distribution of your funds which limits the chances of corruption or even the will not being distributed at all.
No lawyer is needed as the contract is done by yourself, this makes it so safe as well.
The decentralized network after all helps makes it possible to handle your will even in the afterlife.
You are not affected by more costs, taxes, and payments for the execution of your will or even worse paying more for the safety and convenience and execution of your will.
A three step solution on the way to making a blockchain will as outlined.
The three main solutions, we are working on right now are (in this order)
- a register for wills on the blockchain (and a video based oral will solution)
- legally sound last wills and donations through easy to use templates
- Automatized distribution through Ricardian contracts.
Basically Ricardian contracts are the bridge between written legal documents and code.
**A clear approach of how eternitas will management on blockchain works.**
Precisely a template is offered to create a will, will is stored, will is executed.
technically.
- Virtual Testament online by use of templates
- Testament – handwritten will or donation on paper (or whatever is legally needed)
- Transformation of legal prose in smart contract or ricardian contract
- Store of Hash of written will in the Blockchain or in a safe database
- Execution of your will on a given life event
For more check out eternitas.io.
As the winners of the #TwitterPitch Event hosted by Carsten Maschmeyer(German Shark Tank Jury).
Check out about eternitas twitterpitch winning here.
Eternitas CEO twitter https://twitter.com/m_matuschek
Eternitas website https://www.eternitas.io/