Project description
Blockchain technology for fast and secure inheritance processing
Inheritance processes are often complex, leading to numerous instances of time loss, legal disputes, and fraud. Blockchain technology can simplify and secure these processes. The EU-funded LIV project introduces a blockchain-based platform to democratise access to inheritance procedures. This platform aims to streamline decision-making regarding inheritance plans, safeguard assets against loss, prevent family conflicts and fraud, and facilitate seamless inheritance processes after a person’s passing. Furthermore, the platform is designed to handle, recover, and regularise cryptocurrency inheritances. LiV optimises inheritance management for financial institutions, governments, and third parties. These outcomes will establish the groundwork for innovative legal-tech services, positioning the EU as a leader in legal-tech advancements within the inheritance market.
Objective
LiV is a platform that leverages the power of Blockchain to democratise access to inheritance processes, reducing complexity, inefficiencies and ensuring legal compliance. LiV allows any person to:
-Make informed and simple decisions about their inheritance plan
- Protect their assets and inheritance from getting lost
- Prevent families’ fights and protect them from fraud
- Complete simple inheritance processes after death
- Manage, recover and regularise crypto inheritance
LiV also allows 3rd parties, Financial Institutions and Governments to manage inheritance processes more effectively
and to better support their customers’ during distressful times.
LiV is creating a new seamless ecosystem which will completely reformulate the way these entities interact, work and engage. This will mean instant, transparent, cheaper and secure transactions for people and institutions. Our research has revealed that our blockchain approach is a game changing innovation that can potentially:
- Increase inheritance planning adoption from a current 50% to a 75% (3/4 interviewees would use LiV) Part B - Page 2 of 10
- Reduce dormant assets (€50bn) and crypto (20%) to potentially “0”
- Reduce time, costs and eliminate errors during inheritance processes by an average of 90%
- Enable web3 compliance
- Avoid sanctions to Financial Services and other entities
With this, LiV will set the foundations for further legal-tech services that will put the EU at the vanguard of legal- tech innovation in a market valued at ~$500 Bn (2028).
LiV provides access to legal services and contributes to build stronger institutions. With this LiV aims to contribute to the 16th United Nations Sustainable Development Goal and the European 2030 Digital Agenda.
LiV also provides a sustainable non-paper-based process, which we estimate could reduce CO2 emissions by 5 million kg per year just in the EU.
www.livcare.co
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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HORIZON.3.2 - European innovation ecosystems
MAIN PROGRAMME
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
HORIZON-CSA - HORIZON Coordination and Support Actions
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) HORIZON-EIE-2022-SCALEUP-02
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
28005 Madrid
Spain
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.