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January 09, 2019 02:06:11 - Blockchain is gradually getting into every corner of our life. Just a little more time and the technology will be implemented wherever possible. The couple entered into the first marriage contract in the world with the direct use of free registry technology in Austria.

The heroes of the story were a businessman from the city of Graz and his bride. They entered into a "smart marriage contract." It is worth mentioning that the contract was developed by the firm owned by the groom. Unfortunately, the couple will still have to plan a visit to the notary, as the legal norms in force in Austria oblige the newlyweds to notarize the marriage contracts.

However, there are some nice little things. The paper contract contains references to a “smart marriage contract”. It should be immediately said that it is associated with two Ethereum wallets. At any time, the spouses will be able to add new property objects to the smart contract, which are going to be documented immediately.

The problem of the paper contract is that the property relations of the spouses during the marriage change drastically. In case of a divorce, there are going to be the proceedings in terms of the division of property, which usually results in long legal lawsuits. Smart contracts will solve this problem by documenting all the financial transactions.

Experts believe that in the near future, each of us will be able to enter into a marriage contract through Ethereum.

Category: News

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