Losing assets to the wrong people has been one of the biggest threats to man especially when it comes to death.In most cases when Wills are created, they are actually not put into implementation as intended. The traditional Will management method has so many flaws that Eternitas comes to solve. let's take a look.
What is eternitas?
Eternitas is basically an initiative that is utilizing the blockchain technology to Create and execute your will even in your absence. It doesn't involve lawyers or other parties to witness anything but a smart contract is created on blockchain. This contract is like most solid blockchain contract a secure one that is gives you full control regardless of the circumstances.
Inheritance had always had this ordinary way of doing things which most bad opportunists take advantage of, Imagine not being being able to give your family the life you had always wanted to give them just because you couldn't think of any technology to do it. Paying expensive lawyers for some documents that can be manipulated, or dying without making any will at all. Usually people make Wills that they consider to be safe but unfortunately they rely on third parties to execute the will as they intended which rarely happens. So Eternitas brings light into your Will so that you can execute a will you had always thought of all your working days.
With Eternitas everyone can be able to create a legal will (using legally certified templates, tips for avoiding conflicts and tax optimization), then store this will safely and findable and finally enforce even by means of smart contracts. This actually reduces on the costs through taxes and some other legal long processes.
How it works.
You set up your will on the platform, Eternitas provides safe storage and let you finally distribute your funds, assets and digital inheritance on your own
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
Why you should use Eternitas for your Wills.
Safety; No human party gets involved in your will which makes a very accurate distribution as you exactly intended.
Easiness; quicker and much easier, no going through long processes of recording of legal documents, Lawyers and taxes and no one or authority questions your decisions.
Autonomy; A smart contract that will work even after a very long time when you died.
The man behind Eternitas
Milosz Matuschek, is a lawyer specializing in IP / IT. After several years of teaching and research at the Paris Sorbonne, he founded Eternitas.io in mid-2017 .
Check out his twitter for more.
Innovation is about changing the way we look at things. Wills have been around for thousands of years and never really changed at its core. With eternitas we want to give autonomy back to the individual when it lacks the most: at the moment of death. Why leave your will in the hands of others if you can keep it in your own hands?”
For more about what he has to say about Eternitas and it's Vision checkout this interview.
Interestingly they were the winners of the #TwitterPitch Event hosted by Carsten Maschmeyer(German Shark Tank Jury).
Check out about eternitas #twitterpitch winning here.
Lastly, this is a great project where most people are trying to support it in every way possible, you can also contribute to this good cause by donating in any of these cryptocurrencies.
Donate:
BTC: 1DiGG4P2LEcmLP6i8B9rbe3CCMYcKrfbfc
LTC: LbTJS2y95TXxeX1E6WYVzz8uqUgzwCWiL9
ETH/ERC-20: 0x1dFf6069832693f752fa8Ab3f84fC19C76a4A79F
Eternitas twitter https://twitter.com/EternitasIO
Eternitas eternitas.io
Founder of eternitas twitter https://twitter.com/m_matuschek
Milosz Matuschek: http://www.miloszmatuschek.de
In the UK and in many commonwealth countries, a will has to be executed in the presence of two witnesses (the two witnesses must be present together to witness the signing of the will) failing which the will becomes invalid. Probably the same rule applies in many other jurisdictions. How is that accomplished in Eternitas?
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With eternitas, these witnesses are not needed. A smart contract is created that is triggered after an event as agreed on the contract. The author technically becomes the executor so third parties are not really required. For now this project works for digital assets and by around 2020 according to their roadmap physical assets will be added. Check out this interview for more info.
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Hi @tesaganewton, It appears that you have given the eternitas team the powers to override the laws of the various countries in the world!
Here is the telegram chat I had with Dr Milosz, wherein he gave a completely different answer:
https://t.me/Eternitas_Community/175
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Thank you, I just clarified.
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