{"id":24266,"date":"2017-03-02T17:08:21","date_gmt":"2017-03-02T17:08:21","guid":{"rendered":"http:\/\/ci027cfe78e00a26c3"},"modified":"2017-03-02T17:08:21","modified_gmt":"2017-03-02T17:08:21","slug":"hackathon-winner-can-help-pass-your-bitcoins-after-you-die","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/culture\/hackathon-winner-can-help-pass-your-bitcoins-after-you-die","title":{"rendered":"This Hackathon Winner Can Help Pass On Your Bitcoins After You Die"},"content":{"rendered":"
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First place at the Distributed: Markets<\/a> hackathon was taken this year by Tom Nguyen for his project, Dead Man\u2019s Block<\/a>. Named after the dead man\u2019s switch<\/a>, Dead Man\u2019s Block is a decentralized fail-safe trigger that releases digital wills to designated beneficiaries.<\/p>\n

Here\u2019s the way it works: The owner must check in periodically, based on a set time duration, via an alert to confirm that he is still alive. If the set time passes without an owner\u2019s response, the second layer is triggered, which requires at least three validators (family, friends or a lawyer, for example) to confirm his death status. After validation, the third and final layer requires confirmation by at least two public notaries. At any given time, the owner has the flexibility to add and remove as many beneficiaries and validators as he wishes.<\/p>\n

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Grand Prize: DeadMansBlock
fail-safe trigger to release digital wills to beneficiarieshttps:\/\/t.co\/SX4EJVJvq6<\/a>@Mrtomnguyen<\/a>#distmarkets<\/a> pic.twitter.com\/Xr9YHOmAqK<\/a><\/p>\n

— Robert Schwentker (@schwentker) February 27, 2017<\/a><\/p><\/blockquote>\n