Cryptocurrencies have gained a lot of public attention over the past few years, as people start to realize their full potential — this is generally attributable to the rise of smart-contract technology. While Bitcoin has pioneered a revolutionary way of storing and exchanging value, Ethereum smart contracts have been revolutionizing how people manage their assets and automating their spending, eliminating the middle-man from financial operations altogether.
Any programmer proficient in smart-contract technology can write several lines of code to create an automated smart contract — a mechanism which is capable of distributing a predefined amount of capital to a designated set of crypto-wallets. This innovative, decentralized method essentially replicates traditional wills and is now fully at the disposal of governments worldwide. The author of a smart contract can be confident that his or her assets will be transferred at the right moment in time to the correct destination. The transaction will fall under existing legislation for wills in all jurisdictions, but regulators will be unable to block the transfer of assets from taking place. Thus an algorithm which is written within a smart contract is certain to be fulfilled, assuming there are no major cataclysmic events that involve the entire network. Local tampering of different nodes cannot alter the outcome.
Although smart contracts provide unprecedented guarantees and flexibility, they are not truly smart; there is no way that a simple smart contract can verify whether the conditions are optimal to spend assets, or to take into account the prevailing market sentiment, or if the beneficiary crypto-wallets have changed owners. A new player in the field of blockchain startups, Eternal Trusts, aims to change this!
Eternal Trusts is a platform that enhances smart-contract technology with hybrid intelligence, providing a completely autonomous solution that is able to fulfill complicated scenarios, to adapt, and to communicate with external agents. Eternal Trusts is ideally suited to executing long-term goals such as supporting family, managing assets, contributing to charity, or even extending the life of the settler.
In order to achieve highly complex purposes, Eternal Trusts attracts and incentivizes experts (Oracles), who can monetize their passive knowledge by voting for the best solutions. Essentially, Eternal Trusts is a decentralized autonomous organization (DAO), which connects several pools of experts, working together to fulfill the long-term objectives of the clients, or Settlors. One can become a Settlor by purchasing ET Tokens. This initiates the process of splitting the objective into multiple smaller tasks and storing them on the blockchain until a solution emerges. A randomized pool of Oracles, consisting of experts, organizations, and AI-algorithms, regularly vote using smart contracts to select the optimal portfolio of solutions for the purpose. Providers, consisting of companies in fields related to the Purpose, compete to fulfill its objectives in the most optimal way.
Eternal Trusts is an unprecedented service that disrupts the centuries-old industry of fiduciary services by creating an alternative, more secure and affordable option for the crypto world. This project makes it truly beneficial to store assets in crypto over the long-term, beyond mere speculation, while boosting the growth and liquidity of major cryptocurrencies.