Post
Topic
Board Project Development
Re: In addition to LN, I would like to suggest a new service called ASSURED
by
bitcoinore.com
on 15/05/2023, 17:03:59 UTC
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Will the use case for this be primarily to "unlock" funds, if something happens to the owner of those funds?
Let's say you become ill and your family members needs money for your treatment or in the event when you die?

The primary function of ASSURED is to provide a platform for secure, reliable, and time-controlled message delivery, which has numerous potential applications beyond the release of Bitcoin funds. However, due to the nature of the platform (secure, decentralized, and time-controlled), it lends itself particularly well to the use case of "unlocking" cryptocurrency funds in the event of the owner's incapacitation or death.

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It can also be helpful with scheduled payments of regular expenses, for example the monthly fixed payment of streaming providers and/or VPN services.

The ASSURED system, as it's currently conceived, is primarily designed for the secure storage and timed release of messages, not for facilitating transactions or recurring payments. While it's conceivable that a user could include payment information or instructions within a message, it's important to note that the system itself does not interact directly with payment providers or perform transactions.

However, the concept of automated, timed payments is certainly a relevant one in the context of blockchain and cryptocurrency. There are other blockchain projects and platforms that are designed specifically for this purpose, providing smart contract functionality to automate payments based on specific conditions or timeframes. Ethereum is the most notable example of this, with its built-in support for smart contracts.

While the idea of expanding ASSURED's functionality to include scheduled payments may seem appealing, it's important to clarify that the underlying architecture and security model of the system have not been designed for this purpose. Thus, the ASSURED system should not be used to facilitate scheduled payments.