Legacy - Building a blockchain-based last will solution for the digital era
Legacy is a blockchain-based application allowing people to easily distribute assets upon their death or upon any set of verifiable events. The application integrates a variety of services that will be developed progressively as blockchain technology consolidates.
STO/ICO Status
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Basics
| Platform | N/A |
|---|---|
| Type | N/A |
| Accepting | Others |
| Circulating Supply | 60% |
| KYC | N/A |
| Restricted Areas | N/A |
| Homepage | Website URL |
| White Paper | View/Download |
About
Simplifying the process of transferring digital assets in the event of the owner’s death
Legacy is specially designed to be an easy-to-use application. Oriented to serve a wide public, with a focus on young parents, while also including seniors and baby boomers, its usability and accessibility properties are one of its most important aspects. Users will be able to create and configure an account in a few simple steps, without the need for setting up external services (e.g., a third-party storage service).
A service that ensures security, reliability, privacy and long-term operation
Legacy’s core logic will reside in the Ethereum blockchain, which guarantees its integrity and availability in the future. A large blockchain network such as Ethereum guarantees long-term operation because it does not rely on a single organization. Shutting it down would require the disabling of a large number of its nodes. A blockchain also allows to securely transfer digital assets without the need for intermediaries. Users’ data will be stored using a distributed file system, ensuring privacy 5 and reliability. A design approach oriented toward decentralization and self sustainability is also essential to further meet these properties.
Reducing the need for trusted third parties for creating and executing a will
The need for trusted third parties for transferring property usually has more to do with legal issues rather than with technical aspects. From a technical standpoint, advanced algorithms combined with smart contracts allows to simplify the process. In some cases, however, creating a will may be a complex process (e.g., for people holding a large variety of assets), and some legal assistance is necessary. We propose a solution to this problem based on a decentralized platform, in which lawyers and accountants may offer assistance.
An enhanced, smart will allowing to transfer cryptocurrency and smart property
Our ultimate goal is to integrate a wide variety of transferable items, including cryptocurrencies and other virtual assets, as well as smart property. This is Legacy’s long-term vision and represents the main problems that we aim to tackle. This goal, however, involves a number of technical challenges and legal issues that need to be overcome and will be discussed in more detail later on.
