i was considering irrevocable trust for my daughter for college once she reaches 18, but then i thought, who knows what happen after these years, third party can screw around since i have no control over the fund once it is set or if I die. Well smart construct seems plausible.
Conditions:
- contract is executed only on the future day when she reaches 18, easy just program into contract.
- can only be spent on college tuition and/or rent, now this is a hard one because from now on it is highly unpredictable which univercities will be accepting that particular smart contract.
- third party on traditional trust is effectively replace by blockchain, man this is the winner part, no one can screw the contract!
- use her biometrics: either fingerprint (not hash in case you are wondering, i am talking about real finger), or eye retinas, or some hash of her password information etc., so no one can touch it.
Now the risks:
- technology can become completely obsolete or change drastically so that it is no longer working.
- someone can scan her retina or fingerprint while sleeping or simply fool her into doing that.
- developers who is maintaining the smart contract source code can double-deal to recover fund. (not sure if this is technically possible).
Any thoughts?
Topic: any coin that can imitate irrevocable trust, is it possible? (Read 52 times)
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