Topic: Announcing BAL PROTOCOL (Bitcoin decentralized Inheritance Planning) (Read 47 times)

i believe it is completely out of our thinking because the one who started it has thought it in his mind.  You can put anything on your side, but it has to be what the company has in mind.  See if the daughter will be wiser than the father then definitely because if not then the father's mind is sharper even at the age of 70 years and the daughter is still almost young.

This really sounds like an intriguing idea, but I couldn't figure out how such a protocol works in the real work. If Alice (age 40 today) is the daughter of Bob (age 70 today). What would Bob do at what points in time, and what would Alice get at what points in time?

Summing up

1) Why BAL project was born
The BAL (Bitcoin After Life) protocol was born to allow people to transfer without hassle one's own
Bitcoin property to one's own children, without the need to implicate a third party and without trust.
It also allows to have a backup of one's own private wallet in case of Seed loss.

2) What are BAL foundations ?
BAL protocol gets inspiration from noble prize winner John Nash Game Theory (Dominant
Dynamics)

3) Who can be interested in the BAL project ?
BAL protocol can be appealing to all bitcoin owners, because it allows the creation of backup wallets
in case of Seed loss and to plan with ease the inheritance of one's own digital value.

4) How much does it cost to the bit-coiner ?
There are no monthly or yearly fees.
You do not have to possess a credit card or a PayPal account.
You set a fee for the transaction and a fee for the Will-Executor and then you can go on top of Tibet
to meditate for the rest of your life without worrying about your inheritance.

5) Why the BAL project should be chosen
To choose BAL instead of other services will allow to avoid trusting third parties, it easily allows to set
your own inheritance independently to safeguard your digital value.
It is safe, intuitive and easy to use.

6) Strengths of the project
There are several relevant points about BAL for the end user. Use of Electrum wallet, the most tested
with bitcoin, without the need to use or install other wallets not entirely tested.
Managing costs for inheritance are much lower than the competition and fees are paid only when the
value is passed on, with bitcoin commissions already signed for and taken directly from the wallet.

Bitcoin After Life Protocol
(BAL PROTOCOL)

a Bitcoin Decentralized Inheritance Planning

https://bitcoin-after.life/

Today, in this Samhain week, time of the year when the two 'worlds' (material and spiritual) close
together and better communicate, we have the launch of this new Protocol to honour Bitcoin and all
positivity it will bring to humanity.
This project was originated to solve an existing problem: to leave bitcoin inheritance to one's own
children, but in a decentralised manner, without the intervention of an external third party (spouse,
public notary, etc...) thus in perfect accordance with the Fundamental principle of decentralisation.
We have created this protocol, (seeking inspiration from John Nash game theory 'dominant dynamics'
on which bitcoin incentives are based) so that it can have own life, without the need of a central Big
Brother to make it work.
It is an open-source code plug-in and a Will-Executor, taking in charge the inheritance transactions’
push, will stay active for at least the next 10 years to await the consolidation of the protocol with
more and more Will-Executors joining in.
The economic incentive necessary to make all this possible, is a fee included in each inheritance
transaction and is paid when the Will-Executor transmits the inheritance transaction to the nodes, and
it is therefore inserted in the block.
We expect the BAL PROTOCOL to be successful thanks to the incentives included in the inheritance
transactions. These incentives are substantial and increase with the Bitcoin value in time and above
all are appealing for more and more servers to join in the inheritance transactions with a prospective
for middle / long period gains.
Anybody will have the possibility to create a server Will-Executor to contribute to the protocol and
earn commissions, since the code is available as open-source.
BAL PROTOCOL, together with the Electrum plug-in, besides inheritance can also create a backup of
one's own wallets, if planned in advance, to obtain protection in the case of private key loss.
BAL PROTOCOL is also extremely useful when managing a multi-sig Wallet, in order to have a
security option for exceptional cases.
Many are its potential applications, and we encourage the community to find many more others.
Our Electrum plug-in
The B.A.L. plug-in has been created for Electrum wallet, considered the gold standard among bitcoin
wallets. We hope one day that Electrum developers will understand the value of this plug-in and will
integrate it directly by default.
We know technology is useful when it is easily available to people in order to improve their lives;
therefore BAL main objective will be to improve and to simplify this interface.
All the work carried out to implement this project and BAL protocol (Bitcoin After Life) has been
procured only with payments in Bitcoin with no use of FIAT currencies.In the website bitcoin-after.life
you will find instructions to install the plug-in in Electrum and several practical examples on
how to manage heredity with the Plug-in.

Plugin Operations
The plugin generates a transaction with Locktime set to a future date; the transaction is signed and
sent to one or several Will-Executors, who will take care in retaining the transaction and send it at the
expiry date.
In order to provide economic incentives for the Will-Executor to keep and broadcast the transaction,
an output will contain a fee payment, which will be received only when the heredity transaction is
confirmed in the block chain.


Signed

Svātantrya