Crypto Wills
ownership transfer protocol
Crypto Wills are smart contract-based or cryptographically secured systems designed to ensure digital assets like cryptocurrency, NFTs, or tokenized property can be passed on to heirs upon the owner’s death or incapacitation. These systems may involve multi-signature wallets, dead-man switches, decentralized identity verification, or legal smart contracts that automate inheritance execution without the need for traditional courts or probate.
Use Case: An individual sets up a multi-sig wallet requiring a backup signer to gain access only after 12 months of inactivity — effectively creating an automated will system that passes control of their crypto holdings to a designated heir.
Key Concepts:
- Digital Asset Inheritance — Automated, jurisdiction-free succession for on-chain wealth
- Dead-Man Switch — Time-based triggers for asset release upon inactivity
- Multi-Sig & Escrow — Distributed approvals replacing traditional intermediaries
- Smart Legal Contracts — Legally enforceable agreements encoded on-chain
Summary: Crypto Wills offer a blockchain-native approach to inheritance, using smart contracts and cryptographic tools to bypass legal bottlenecks and ensure seamless transfer of digital assets. By removing intermediaries and enabling programmable logic, they provide a secure, private, and autonomous alternative to traditional estate planning.