Bitcoin Forum

Dear Community,

Together with a team from the MSc. Digital Currencies, I am currently working on implementing a solution to the problem of inheritance of Blockchain assets.

For this, we have a specific issue:

Would it be possible to have a colored coin that represents a certain percentage of funds in address X. In other words, would it be possible to give my descendant a coin that gives permission to spend a certain percentage of funds (measured when I am considered dead) after I am dead?

We have been brainstorming about this and a possible solution would be to split up the funds into multiple addresses before death, however, it would be more useful if this could be included in either a smart contract or a coloured coin <-- a problem with this solution is that it gives inconveniences if the original owner wants to spend funds, for example, to pay a bill to the hospital, before he passes away which would influence the inheritance of one descendant.

Ideally, the solution would work for any asset recording on the Blockchain.

I appreciate your thoughts on this issue. Brainstorming is welcome!

I'm not sure about colored coins, but have you looked into nlocktime / op_checklocktimeverify in cooperation with some sort of dead man's switch? Maybe that's one piece of the puzzle you're still missing.