The latest Spanish contribution in InsurTech and LegalTech, Mi Legado Digital, presents an innovative blockchain solution for the transfer of digital content after death and the management of a living will and testament.
Death is a reality for which we should all be prepared. Have you ever wondered who should manage all your texts, videos, photographs, and audio files that you have hosted on the cloud, social media, or other platforms?
Translated as My Digital Legacy, Mi Legado Digital is still in beta and will allow users to create a living will that handles the management of their digital assets using Blockchain technology.
Whether we are aware of it or not, we all have digital assets. “Digital assets” basically refers to anything that comes in a digital form, including emails, documents, images, audio, video, and similar digital files that are stored on digital devices.
Most people’s digital assets include personal, social, and IoT data, as well as digital content such as music, art, and text files.
Mi Legado Digital streamlines the procedure for issuing a living will in real-time and connects all the parties involved in the process (registration, health centers, doctors and legal representatives of the user), so that the instructions given are actually fulfilled.
The platform also allows your heirs to know and be able to access your money accumulated in electronic payment systems such as PayPal or cryptocurrencies such as Bitcoins.
Judith Giner, CEO of Mi Legado Digital, reports that this solution is currently in beta. To carry out the project, it has the collaboration of Nodalblock, which is one of the most prestigious Spanish companies specialized in blockchain.
Madrid-based Blockchain as a Service startup Nodalblock recently received a seed investment from Canada’s Numus Financial for a minority equity position, and the Spanish startup is opening a new office in Nova Scotia, Canada.
Nodalblock’s Blockchain as a Service solution allows clients to seamlessly integrate blockchain technology in their existing business processes, increasing their efficiency, traceability and security.
The Mi Legado Digital project has the invaluable support of Madrid-based notary Alberto Bravo Olaciregui, and the legal counsel of Ricardo Oliva León, a specialist lawyer in disruptive technologies and legaltech.
The development team is coordinated by CIO Óscar Domínguez Merino, expert developer of complex digital platforms. The company has also signed agreements with health centers and private hospitals with the aim of expediting the execution of the living will.
Thanks to the use of smart contracts on the Blockchain, Mi Legado Digital achieves several purposes: it reduces the possibilities of manipulation and fraud, adds verifiability and auditability to digital transactions; achieves better tracking of information and digitized assets; and it allows transferring automated and secure digital content without the need for intermediaries.
The technology presented by Mi Legado Digital is aligned with the granting of a will and allows the registration of the digital contents of its users to be updated in real-time without requiring them to make successive modifications of their wills – as they acquire new digital content or get rid of those they had — without having to going to a notary after the first time.
In addition, its platform is designed to facilitate the procedure of transferring digital content between the “causer and heirs or legatees,” within the framework of a secure technological environment that guarantees absolute respect for the last wishes of the testator, the protection of their personal data, the elimination of the risk of access by unauthorized third parties, and the continuity over time of the services offered by the company.
Mi Legado Digital puts a new spin on the way digital content after death is approached and the management of the living will, with what hopes to soon become the first Spanish company that offers the intelligent testament at an international level.