ET Purpose™ app

Purpose Trust Framework on the blockchain

We have developed the first blockchain-based application that streamlines and facilitates trustee services. In just 3 weeks, you can receive a customized, white label, modular application for your own company with requested features. After that, all your company has to do is assign roles for your team that will collectively administer assets and start working with the new target audiences.

See the future of fiduciaries in action!

Powered by Fast
and Secure Blockchains

ET solutions use EOS.IO, one of the fastest
blockchain protocols with low transaction fees,
and Hyperledger by IBM

1

EOS

EOS is a smart contract platform for the deployment of decentralized applications that supports millions of transactions per second.

1

Hyperledger

Hyperledger is an umbrella project of open source private blockchains supported by IBM.

How the ET Purpose™ works
for the end user

1

Remote onboarding

A remote onboarding procedure through a convenient, customizable decentralized application.

2

Determining the end goal of the blockchain trust

Creating a record in the blockchain, including the end goal for asset spending, the beneficiaries, and potential external triggers.

3

Assigning roles for trusted parties

With the application owner's help, the client creates a flexible voting structure and assigns roles for protectors, enforcers and beneficiaries.

4

Transfer the assets

Smart contracts are deployed. The client can transfer the assets under management of the blockchain trust.

5

Managing assets

The chosen asset management providers or the trustee manage the client's assets according to traditional strategies adjusted for the crypto world. The trustee & protectors vote for the most optimal solutions for the client given the initial purposes.

6

Solving the trust purpose

When the conditions of the client's purpose are met, protectors release the client's assets through the chosen algorithm. All necessary payments and rewards are made automatically.

No need to cling to
outdated approaches

Boosted by our technology, your company can conquer
and dominate 3 new markets in need for new fiduciary
& estate planning solutions

500 mln Sub-HNWI individuals

Target the mass market with a more affordable and remote solution

30 mln crypto holders

Target the mass market of cryptocurrency enthusiasts

1 mln visionaries and futurists

Solve extraordinary fiduciary purposes that cannot be solved at the moment but can become feasible in the future

ET Purpose™ Use Cases

Choose your set of use cases to target the new markets with

ET-dApp

Family governance

Client’s goal
The clients using ET for family governance are wealthy families that can set up the application through a provider, a multi family office, or host it themselves. The governance will be composed by a number of family members with different voting rights. The application helps them control the family budget and organize financial support to all or some family members.

Voting rights
Family members can sanction payments to other family members and themselves through a multisignature voting procedure with required and not required votes. Depending on the withdrawal amount, the transaction might need confirmation of more or less family members.

Assets
The family governance fund can be filled with yearly contributions of all family members or an initial settled fund.

Triggers
Family members can trigger emergency withdrawal of funds.

Wealth succession

Client’s goal
Trust settlors can use ET to enable succession, avoid probate, and algorithmize asset distribution between generations.

Voting rights
Changes to smart contracts are introduced and transactions are sanctioned through a multisignature voting of the client while he or she is still capable to vote, the protector appointed initially by the client, and the trustee as the final arbiter (2 out of 3 signatures, for example). The vote from the client is not required to assure that decisions can be made without him or her.

Assets
The Fund is formed and managed at the beginning when the assets of the settlor are transferred under management.

Triggers

  • Beneficiary can contact the trustee to trigger the emergency withdrawal of assets.
  • There are regular automatic triggers to vote for the payment to beneficiaries.

Charitable purposes

Client’s goal
Philanthropists can create a personal giving strategy and put their assets to be autonomously distributed to relevant charitable organizations.

Voting rights
Changes to smart contracts are introduced by the client while he or she is still capable, and approved by the trustee advised by a set of external experts on charitable giving.

Assets
Clients settle a Fund with their own assets or they can form a mutual fund with other philanthropists.

Triggers
Charity experts can trigger a new round of charitable contributions in case there’s a high need for some charities that contribute to the settlor’s cause, or if a new effective charity appears on the landscape.

Custom Use Cases

Single- and multi-signature library provided by Eternal Trusts:

  • Simple account – just one signature required to make a transaction
  • Shared account – several parties have equal access rights to assets stored on the account (ex. 1 signature required for a transaction, but multiple parties have the right to sign)
  • Partner account – required number of signatures equals to the number of preset signatories (ex. 2 out of 2 signatures required)
  • Consensus account - the classic Multi-Sig Wallet is a 2 out of 3 and 3 out of 5 signatures required for a transaction
  • Split account – ex. one party holds 3 rights of signature and 3 parties hold 1 right each. A perfect use case for inheritance of digital assets, where the settlor holds 3 rights, a beneficiary holds 2 and the estate planner holds 1
  • Smart account – depending on the size of the transaction, different number of signatures is required

Let us walk you through a live demonstration of ET Purpose™
to see how specific features can benefit your company.
Fill out the form and we will be in touch shortly!