Eternitas
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contracts
README.md

README.md

Eternitas

Eternitas is a service for will execution via smart contracts.

Some functions of the main contract are inspired from Heritable.sol by Open Zeppelin.

Website: http://eternitas.io/

Test

Before testing Eternitas, make sure you have the following apps installed:

Truffle

npm install -g truffle

Testrpc

npm install -g ethereumjs-testrpc

Then test it:

truffle compile
truffle migrate
truffle test

User workflow

  1. The user edits his last wills on a dedicated page (a form on http://eternitas.io/).
  2. A smart contract is deployed on the blockchain: his last wills are secured on the blockchain.
  3. He can select the proportion to give to each heir for each asset.
  4. His death triggers several transactions from the main contract to his heirs.

Description

struct Heir
    {
        uint shares;
        uint relationship; // 0 : Child 1: Spouse 2: Other
    }

relationship indicates the relationship between the owner (testator) and his heirs. "0" is a child, "1" shares indicates the proportion of an asset (ETH only on this version) to be transferred to this heir.

haertbeatTimeout

timeOfDeath

totalShares

heirs_

Owner

transferOwnership

addHeir

reclaimFunds

proclaimDeath

The problems we solved

  • NO loss of control over the own will in case of death: Our „smart will“ continues to exist and to work beyond the death of the testator, allowing full control on the distribution of the different assets in accordance to the last will. The testator becomes his own will executor. People die, code lives on.

  • NO human third party risks: leaving the execution of a will to the heirs themselves provokes misunderstandings and conflicts (statistically in around 30% of the cases); will executors could themselves fail to act in conformity with the testator, either because of a collusion with one of the heirs, either because of their own incapacity or refusal. No one can alter the last will of the testator.

  • NO complicated inventory: real life assets have to be searched for, which is onerous. Digital or tokenized assets may ideally be all on one platform. This means, the inventory is already made by the account owner, who is his own estate manager during lifetime.

  • NO need to wait eternally: making an inventory and distributing the funds can take 1 or 2 years or longer. That´s the time, the heirs have to wait without having access to the funds. We may cut this period down to seconds.

  • NO costs, that will kill you: will executors or estate managers generally act on a commission based model and may in a lot of countries fix their fees freely (3, 5, 10% or more for execution only); additional actions may be charged further. We can cut costs significantly by the automatisation of this transaction. Notaries or lawyers may only be included in this process during the will creation (if the customer asks for their help) or for the enregistration of the ownership of certain assets (e.g. real estate).

  • NO loss of funds anymore: cryptoassets will not be lost in case of death any more, as every heir gets notified, that he can reclaim his funds.