Could Link be used to create a Deadman switch? The oracles would know you died...

Could Link be used to create a Deadman switch? The oracles would know you died, execute a smart contract that sends your family your funds or information on how to access your coins?

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Yeah except it could be used to market sell all your shitocins and deposit money in their bank accounts.

any digital agreement you can think of can be done with LINK as long as the data that triggers the contract can be digitalized

and yes, death records are digitalized

Meh, dumb idea. You could do a spend condition: (you) or (your lawyer + your kid) or (your kid after 10 years have passed). Bitcoin can do that with its simple script language

And with things like MAST, the used spending condition won't show the whole script.

>BTC can't connect to off chain data so you'd need an oracle anyway for the contract to know when you died
>you should have your funds in BTC cuz it can't connect to legacy systems
>it wouldn't have any legal value so the state could take your children to court for money laundering or some bullshit like that


you tried user

Ehm, no? Are you retarded?

no what?
you didn't try?
you don't understand?

learn to communicate

Seems you are. There is no current way to get off chain data to a contract on bitcoin. Nice try though champ.

maybe with hivemind it could be possible but I wouldnt bet my hereditance on it

and the legal aspect would still be shady af

He's a retard who doesn't understand p2sh addresses. Not my problem.

Lmao. You would sign a legal contract with your
lawyer (who would have his own key). How do you think the world works?
Muh offchain data.

>and the legal aspect would still be shady af

Explain, please. As I understand it having a contract that executes via computer code is as legally airtight as you could possibly hope for. I'm interested in hearing your thoughts on this matter.

well, logic and law don't always go hand by hand

it's not because it works that it is a legal contract, you'd need the contract to be auditable, transparent and whatever the jurisdiction of the country or countrie sinvolved in the contract cosider is needed for a digital agreement to have legal value

the whole open law and accord project thing revolves around creating smart LEGAL contracts;
that's why the standards are also so important (iso 200022)

As I said, it's not because the contract works that the state recognizes it's value

if you receive money and the state dosen't recognize it's legal value it can be seized, or if you buy property or anything really

And the lawyer would here be the "oracle" in a sense (if that wasn't clear, brainlet). No need for some overengineered bullshit.

Then why even fuck with a smart contract if you have to rely on a fucking overpaid lawyer who may or may not even still be around when you die?

obviously inheritance isn't the best use case for this BUT it would be cheaper than hiring a lawyer and the settlement would be quickier, in theory

you don't need a lwayer AND a smart contract
you just need to write a smart contract for your inheritance using a template

as I said, I don't think this is the best use case for smart contracts but it would save time, costs and friction
I believe the SC revolution will start in the financial space, saving shitloads of money avoiding fraud, third parties and by saving time (time is gold)

Vital records would have to have an API. But probably yes. Or you would have an IOT punch clock that you checked in on as alive. But if a hurricane knocked your power out for a month or something you'd be fucked depending on your deadmans switch timeline

Couldn't you set up a smartcontract that triggered a transfer of BTC? Not on the BTC chain, but since link can store/use private keys it could trigger the transfer itself right?

actually yes, you can do private key management with chainlink + trusted hardware

we prob need to find that link poster from a month ago that was looking at fighting cancer a second time. he was posting about the time Jow Forums went down for probably a day give or take. maybe he is around???

Dude......this could actually revolutionize probate court holy shit