The Spanish company Mi Legado Digital announced on Thursday in Madrid a proposal based on blockchain technology and smart contracts, for the management of what it calls a "intelligent testament" that allows the transfer legal content and digital assets to the heirs.
The company said in a press release that it is a proposal that incorporates smart contracts, along with services based on a public key infrastructure , such as electronic time stamps and certified electronic delivery services. In said contracts, the firm says, "the intervention of a notary when its participation is necessary" is contemplated.
It is still a preliminary version, or beta version, says Judith Giner, the CEO of Mi Legado Digital. And as for the technological infrastructure used in this project, the provider is the Spanish company Nodalblock, based in Madrid, but also has a development team in Halifax, Canada.
Nodalblock has a blockchain platform as a service ( Blockchain as a Service or BaaS ), which is acquired by subscription and does not require the usual investments of hardware, software and computing resources that are necessary when deploying the blockchain locally. Nodalblock works with the blockchain of Ethereum and also provides access to private blockchains.
The lawyer Ricardo Oliva León, adviser of My Digital Legacy and specialist in the legal aspects related to disruptive technologies, pointed out that the initiative of a will digital would not only guarantee access to personal digital content -documents, photos, videos, subscriptions to services such as Spotify or Netflix, among others- of who subscribes the will; it would also allow the heirs access to the digital assets, for example, cryptocurrencies and other virtual assets, that the person handled in life.
Oliva León analyzes in detail the digital contents that are not contemplated in the civil code Spanish, in the recommendations of the European Commission, or in the provisions of industrial property or intellectual property: