Digital Legacy | Bitcointalksearch.org

polynesia

legendary

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Quote from: Benson Samuel on August 26, 2014, 05:39:47 AM

Quote from: polynesia on August 25, 2014, 09:04:41 PM

Quote from: Sindelar1938 on August 25, 2014, 01:10:47 AM

Very interesting article
The very first time this has been properly contextualised in the Indian media. The law needs to get up to speed fast.

Not just the law. We have to think about this as well.
It will not help if we have a brain wallet and our next of kin does not know about this.

I believe that the answer to inheritance lies in closely integrating it into the Bitcoin Protocol itself.
While Multisig is catching up quick, Time Locks have to be added as well at some point in time for the extra cautious.

That would be brilliant... I guess as more and more people start using bitcoin, such features would be demanded.

Benson Samuel

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Landscaping Bitcoin for India!

Quote from: polynesia on August 25, 2014, 09:04:41 PM

Quote from: Sindelar1938 on August 25, 2014, 01:10:47 AM

Very interesting article
The very first time this has been properly contextualised in the Indian media. The law needs to get up to speed fast.

Not just the law. We have to think about this as well.
It will not help if we have a brain wallet and our next of kin does not know about this.

I believe that the answer to inheritance lies in closely integrating it into the Bitcoin Protocol itself.
While Multisig is catching up quick, Time Locks have to be added as well at some point in time for the extra cautious.

deepestfear

sr. member

Activity: 291

Merit: 250

Yep, if you are a paperwallet or brainwallet guy, you need to designate somebody who will help your next of kin get their hands on the digital assets after your passing
Complex issues, the law can help here by issuing clear guidelines on best processes

polynesia

legendary

Activity: 1358

Merit: 1000

Quote from: Sindelar1938 on August 25, 2014, 01:10:47 AM

Very interesting article
The very first time this has been properly contextualised in the Indian media. The law needs to get up to speed fast.

Not just the law. We have to think about this as well.
It will not help if we have a brain wallet and our next of kin does not know about this.

adv.kanishk

member

Activity: 117

Merit: 10

A very interesting post from legal point of view. As rightly put by Prashant Mali, the google and facebook should also have a column for successor/beneficiaries in case of death and the death can be verified when the heirs submit a death certificate of that person. However, in case of digital currencies I think if a person is using services of an exchange/wallet and such exchange/wallet has the same facility then the bitcoins should also be transferred in the like manner. Only 3% of Indians get their will made and that too when they are in the last stages of life. Nobody forsee the death and would prepare his will being a lawyer even I haven't.

It has already been incorporated in the registration form of millibits at https://millibits.in wherein the successor details are also been asked for by the exchange in the "Nomination Form" and in case of death the remaining balance of INR and bitcoin are transferred. The bitcoin are transferred to the person holding dead man key. You may look into it and understand more from webmaster of exchange.

Sindelar1938

hero member

Activity: 490

Merit: 500

Very interesting article
The very first time this has been properly contextualised in the Indian media. The law needs to get up to speed fast.

polynesia

legendary

Activity: 1358

Merit: 1000

How many of us think of what will happen to our digital assets (bitcoins included) in case we meet with an untimely demise?

http://articles.economictimes.indiatimes.com/2014-08-22/news/53112597_1_bitcoin-digital-afterlife-heirs

C Suresh, 37, a software engineer based in Bangalore, has been racking his brain trying to find out what to do with bitcoins left behind by his elder brother who died in an accident earlier this year. "All I have is his laptop; the currency has perhaps been stored on some hard drives which we have no clue about," he said.

Topic: Digital Legacy (Read 1333 times)