Blockchain-Enabled Wills and Testaments: Cryptowills
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Authors
Patel, Mehernaz
Issue Date
2021-04-09
Type
Other
Language
en_US
Keywords
Blockchain , Will
Alternative Title
Abstract
Blockchain technology has the power to fundamentally change the way people have executed their wills for decades. This technology could be used to establish a distributed ledger of wills that would maintain a secure record of the wishes of a testator for the distribution of assets post mortem. A blockchain may serve as an accurate, authentic and safe record of the last wishes of a testator for the disposal of his/her assets. This study proposes the creation of a blockchain that encrypts a will to make it safer by reducing the possibility of its loss or being tampered with. Although this latest technology can challenge some of the current statutory laws, it is viewed as an achievable near future legal approach.