Description
MyCryptoWill is a service where individuals can plan for the digital inheritance of their cryptocurrency assets. It allows users to set conditions under which their digital assets will be passed on to their chosen beneficiaries:
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Smart Contract Based: Utilizes smart contracts to lock assets until certain conditions are met (e.g., passing of time, verification of beneficiary identity).
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Privacy and Security: Ensures that the user’s crypto assets remain secure until the conditions for release are fulfilled, without revealing sensitive information.
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Ease of Use: Simple interface for users to set up inheritance plans, nominate beneficiaries, and specify conditions.
Key Features:
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Asset Locking: Users can deposit their crypto assets into a smart contract that holds these until specified conditions are met.
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Multi-signature Requirements: Option to require multiple beneficiaries or trusted parties to sign off before assets are released.
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Time-Locked Distribution: Assets can be programmed to be released after a certain period, giving time for legal or familial issues to be sorted.
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Beneficiary Verification: Integration with identity verification services or multi-factor authentication for beneficiary identity assurance.
Implementation:
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Blockchain: Ethereum for its smart contract capabilities.
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Frontend: A user-friendly web application built with frameworks like React.js or Vue.js.
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Backend: Node.js server to manage user interactions, with Web3.js to interact with blockchain.
Pricing:
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Setup Fee: $250 for account creation, plus $250 first will setup, and smart contract deployment.
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Annual Maintenance: $50 per year for ongoing security checks, updates, and customer support.
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Additional Features: Custom conditions or complex inheritance plans could be charged extra, starting at $100 per additional feature or complexity level.
Key benefits:
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Peace of Mind: Users can rest assured knowing their digital assets will be handled as per their wishes even if they’re no longer around to manage them.
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Control Over Assets: Offers control over how and when assets are distributed, something traditional wills might not fully accommodate for digital assets.
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Privacy: The service ensures beneficiary details are only revealed under specific conditions, maintaining privacy.
This service is for crypto enthusiasts or anyone with digital assets who wish to ensure these are passed on securely and as intended.
Remember, legal implications of such wills vary by jurisdiction, so it would be wise to ask your legal adviser first to ensure compliance with local laws.
