April 9 — Zug, Switzerland
Contract Vault and Eternitas are delighted to announce a privileged partnership agreement.
Based in Crypto Valley, Contract Vault is the leading platform for customisable legal and smart contracts and legal tech services.
Eternitas is the award-winning French-German startup, developing blockchain-based solutions for estate planning.
Besides providing mutual support for the development of their respective platforms and in particular for the smart contract-based implementations of last wills and donations, the two companies will work together to expand their partnership network to include insurance companies, family offices and fintech companies in order to encourage smart contract adoption.
Businesses and individuals have so far had to rely on legal intermediaries and inefficient, paper-based processes for estate planning. It’s uneconomical and unoptimised for customers, and of low value to legal professionals. Contract Vault and Eternitas will undertake to provide an accessible solution for recording the last will and testament of individuals using blockchain technology.
Wills can be created using Contract Vault’s powerful, customisable templates and linked to smart contract code using Ricardian contracts. Once the smart contract code is triggered — either automatically or semi-automatically — funds, assets and rights are distributed to the beneficiaries per the terms of the will and without human intervention.
Contract Vault and Eternitas are in the vanguard of the digitisation of asset transfer; and in the near future, we expect this process to not only include cryptocurrencies, but also all kinds of tokenised assets; including gold, real estate and company shares.
Gordon Mickel, Managing Director of Contract Vault, sees unique value in the work the two companies are setting out to do together — “Of all the business transactions and transfer of rights and ownership, there is maybe none so important as when a person passes away — so it’s only fitting that we use technology like smart contracts to make that process as sure and reliable as possible — to guarantee that a person’s wishes are carried out. I salute Milosz and the Eternitas team for taking on this tremendously important challenge.”
Dr. Milosz Matuschek, CEO & Founder of Eternitas, adds: “Smart contracts have become a buzzword in the Legal Tech space but are still not being used to their full potential in everyday life. Contract Vault is filling a big hole by providing access to legally-enforceable smart contracts on an easy-to-use platform that makes new applications possible. Will execution is an easy to understand example for demonstrating how technology can give autonomy and control back to the individual by using decentralised networks. We are excited to work with Gordon and his competent team to turn this vision into reality.”
Contract Vault’s partnership with Eternitas is just one of several for the Swiss-based startup, which also counts Laux Lawyers, Validity Labs and ChainSecurity among its growing ecosystem of partners and content providers.
The Contract Vault Platform is powered by the Vault Token.
The French-German start-up Eternitas is among the first movers to specialise in estate management and automatised will execution via smart contracts. Eternitas offers immortal last wills on the blockchain and an autonomous method for the distribution of assets to the heirs.
About Contract Vault
Built in the heart of the Swiss Crypto Valley, in Zug, Contract Vault is an advanced platform built with blockchain technology that allows users with little or no legal or technical knowledge to create, customise, manage and deploy legal contracts and legally-enforceable smart contracts and makes the trade of physical property and rights on the blockchain possible.
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