Do you want to set your love and marriage in virtual stone? If yes, we’ve got some good news -- read on.
It’s no big secret that the blockchain has made friction-less cross-border payments possible. But, that isn’t all it can do. If you've been keeping up with what’s happening in the world of the blockchain, you must have noticed that the technology has advanced well beyond cryptocurrencies such as Bitcoin and Ethereum. Along with AI, Big Data, and Shared Economy, blockchain has grown to become one of the most disruptive technologies out there, affecting almost all facets of our lives.
Of more significance is that blockchain is about to change the way we do weddings and marriage. That’s right; thanks to marriage smart contracts you can now immortalize your wedding vows and give more meaning to your marriage.
Blockchain and Marriage: A Match Made in Heaven?
Traditionally, if you want to formalize your marriage, you will have to go through a slew of government procedures which often take weeks, if not months, to complete. With marriage smart contract, however, you don’t have to go through all that trouble. You can entrench your vows as well as nuptial agreements in the blockchain.
Cryptocurrencies are just one of many uses for blockchain technology. There is not just one blockchain, there are many. Some are public while others are private. Bitcoin and Ethereum are public blockchains, while a corporation like Walmart can create a blockchain on their own private servers that the public cannot access. The technology itself is distributed across a network of thousands of computers (the so-called nodes) all around the globe, working together to validate and store transactions. The Ethereum blockchain has advanced features that enable digital agreements to be made, called Smart Contracts.
What’s a Smart Contract?
Backed by the blockchain, a smart contract is a nifty way to digitally trigger a series of events (e.g., payment) based on pre-agreed metrics. It has gained increased traction in the past couple of years, especially in the financial industry. The good thing about smart contracts is that they are reliable, safe, and if desired, data can be made immutable, meaning it cannot be reversed.
Thanks to proof-of-existence capabilities of the blockchain, the concept of smart contract can be applied to a myriad of other aspects of our lives, including marriage, divorce, and even wills. That means you can include marriage conditions, vows, prenup agreements, wills, and other family documents in one of these secure digital contracts.
Say I Do …. On the Blockchain
In August 2014, for the first time, a blockchain marriage took place in Orlando, Florida. The couple, Joyce Bayo and David Mondrus, decided to take their nuptials to a whole new level. Interestingly, David is a US citizen who met Joyce in the Philippines.
Although the couple wanted to take advantage of decentralized nature of blockchain to memorialize their marriage, their move has opened doors to the creation of an easy-to-use blockchain marriage platform such as SmartVows.com. Many more couples are following in the footsteps of David and Joyce.
Benefits of Marriage Smart Contract
With platforms like SmartVows.com at the forefront, there are a ton of benefits that couples can get from embracing a blockchain marriage. Here are some of these sizzling reasons why taking advantage of the multifaceted benefits of marriage smart contract might be the best decision you’ll ever make.
Nuptial Flexibility at Its Finest: Customized Marriage Smart Contracts
A marriage contract does not have to be rigid. The couple can personalize theirs with vows, sweet words, and other prenuptial and postnuptial agreements.
Immortalize Your Love and Marriage
Here’s the thing: a marriage certificate is just a paper that can get buried in the clutter in your home. Even worse, it can get lost or tampered with. With a marriage smart contract, that’s concern is a thing of the past. You can entrench your vows, love, and marriage in the annals of history. This way, it cannot be forgotten or lost.
The Blockchain is the Future
With the blockchain technology advancing at a breakneck speed and being adopted across the globe, it’s only a matter of time before government agencies and lawmakers require marriages to be documented with smart contracts. Even better, blockchain is for everyone, and you don’t need to be a computer guru to use it.