TARU PUBLICATIONS
 Journal of Statistics and Management Systems cover
Hybrid ·Peer-reviewed·ISSN (Online): 2169-0014·ISSN (Print): 0972-0510

Monthly Journal: Publishes peer-reviewed aticles on theoretical and applied statistics and management systems, expoloring industrial statistics, actuarial and decision sciences.

Issues up to 2022 co-published with and available at:Taylor & Francis Online
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Open Access Research Article

Framework for a crypto-will platform that can smoothen the process of writing a Will

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pp. 579–588Vol. 28Issue 3April 2025DOI: 10.47974/JSMS-1410XML
Received:
13 Aug 2024
Published Online:
10 Apr 2025
Article type:
Research Article
Language:
EN
Article no.:
JSMS-1410
Pages:
579–588

Abstract

Writing a will, even in the modern world, faces many taboos. To add to that, writing of a will can get intimidating and tedious as it not only involves many laws and regulations but also costs money and time. This study proposes the application of blockchain technology along with smart contracts and cryptography to create secure online crypto-wills on an app. The study also provides an architecture for making crypto wills on the blockchain network. The creation of a blockchain can encrypt the will, making it impossible to tamper with, and also eliminating the chances of losing a will. This technology uses consensus algorithms to confirm consistency and records transaction details in blocks to ensure the efficacy of the transactions being recorded. The proposed blockchain architecture focuses on authenticity, effectiveness, and cost reduction. Asset registry of the users along with their wills are saved in blocks, which provide complete security and are tamper-proof. In addition to this, a smart contract enables the disbursement of the will at the right time with the capability of direct disbursements of assets in the future. This mechanism guarantees the integrity of data, unforgeability, irreversibility of information, the ability to resist counterfeiting attacks, nonrepudiation, and public verifiability. To add to that, blockchain can provide better evidence of the intent of the testator which is a major cause of contesting wills in courts today.

Keywords

Subject Classifications

Primary 93A30Secondary 49K15

References

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