SMART WEDDING CONTRACT
How does it look like?
On this page you'll get an overview about the functionalities the Smart Wedding Contract offers.
WHERE IT ALL STARTS
The home screen of the Smart Wedding Contract from the husband's perspective. The contract is not signed yet.
In the left corner information about the Smart Contract is displayed. In the right one, details about the husband wallet is shown.
At the bottom, assets and events will be displayed once the contract is signed.
UPLOAD WRITTEN CONTRACT
According to Austrian law a written contract is obligatory for a marriage contract.
Together with our attorneys (Stadler/Völkel) we set up a common marriage contract and enhanced it by referencing to the Smart Wedding Contract. Several parts like the separation of property in case of a divorce, are handled exclusively by the Smart Wedding Contract.
The written contract was uploaded to the decentralized file storage IPFS and can be viewed here.
CONTRACT IS SIGNED
Both partners have signed the Smart Contract. The events are immutably recorded on blockchain.
SHARED DIGITAL WALLET
The Smart Wedding Contract can be used as a digital wallet. As it is agreed in the written
contract, each spouse has to participate - in equal shares - to the costs, which are related to the couple.
Therefore, the Smart Wedding Contract provides the functions deposit ("Einzahlen") and payout ("Bezahlen").
FLEXIBILITY & TRANSPARENCY
Husband as well as wife have added assets to the Smart Wedding Contract. The respective other spouse has to approve any change to the list of assets before it is finally confirmed.
Adding or removing assets does not need further contracts, but can be easily managed within the Smart Wedding Contract.
It is also possible to add assets with uneven shares (e.g. Asset "Car", 30% husband, 70% wife)
THE WORST CASE - DIVORCE
Divorce was filed and accepted by both partners. The common account balance is split in equal parts and the payment is sent to the respective wallets.
Because of the dynamic management of assets it is clearly defined which assets belong to whom (at which share).
Further interactions with the Smart Wedding Contract are not possible anymore.