Smart Testament

Spanish Company Develops Smart Testament Solution with Blockchain

“Mi Legado Digital” developing Smart Testament with Blockchain

The company Mi Legado Digital (My Digital Legacy) is developing something new, “the first smart testament of Spain” that will allow the legal transfer of the online content and crypto assets of the interested party to his heirs. The main goal is providing a solution that will pass the owner’s digital legacy contained in the files that they keep in the cloud, such as profiles on social networks, money accumulated in electronic payment systems such as Paypal or bitcoins and other digital assets with economic value, among other utilities.

Judith Giner, who serves as CEO of the company, affirms that it is still a preliminary version or “beta” that will use technological infrastructure provided by the company of logical security and information certification. The project is called Nodalblock, with a development team based in Halifax, Canada, which works with the Ethereum blockchain.

This project, which has the support of the European Regional Development Fund, aims to ensure the privacy, confidentiality, inalterability and immutability of personal data and any sensitive information of its users by incorporating blockchain technology (specifically, Smart contracts).

On the other hand, one of the advisors and lawyers of Mi Legado Digital, Ricardo Oliva León, said that this initiative, in addition to guaranteeing access to digital content of a personal nature (such as photos, videos, documents and subscriptions to services such as Netflix and Spotify), will enable the heirs of the interested party to have access to digital assets, such as crypto assets.

Thanks to the ‘smart contracts’, the initiative aims to reduce the possibilities of manipulation and fraud and increase the verifiability and auditability of digital transactions. It also  reportedly supports better tracking of information and digitized assets by transferring digital content automatically and securely without the need for intermediaries.

Mi Legado Digital has pointed out that it is “highly recommendable” to make a living will in order to leave, in advance and in writing, information and precise instructions on whether to accept or reject certain medical-health treatments on our person, in the hypothetical case that our physical or mental state makes it impossible for us to manifest our will at that moment.

With this new project being carried out by the company Mi Legado Digital, they will give a new twist in the way of approaching the transfer of digital content after death and the management of the vital testament, hoping to soon become the first Spanish company to offer the smart testament on an international level, thus adding to the numerous digital identity authentication initiatives that use blockchain technology.

Check out Crypto Core Radio