Javascript must be enabled to continue!
Legal Protection for Heirs with Non-Fungible Token Heritage Objects
View through CrossRef
The development of digital technology has introduced Non-Fungible Tokens (NFT) as a form of digital asset that has its own economic value and uniqueness. This opens up the potential for NFTs as objects of inheritance, however the traditional inheritance law system in Indonesia has not fully accommodated non-physical entities such as NFTs, especially due to unclear regulations regarding the transfer of rights to these assets after the death of the owner. This article discusses legal protection for heirs with NFT inheritance objects. This research uses normative or doctrinaire research methods using secondary data and a comparative legal approach, which involves analysis of relevant laws and regulations and NFT practices in several jurisdictions that have recognized the existence of NFTs. Based on the research results, NFTs can be inherited through a general will made by a notary, olographic, or private. However, the main challenge is access to digital wallets that store NFTs and are at risk of being lost if there is not sufficient technical information regarding access. To overcome this, inheritance planning with a dead's man switch mechanism in smart contracts can enable the automatic transfer of NFTs to heirs. However, legal recognition of this mechanism is still limited. This research highlights the need for clearer regulations and legal updates in Indonesia regarding digital asset inheritance, to provide legal certainty for owners and heirs as technology develops. It is hoped that the results of this research can contribute to the formulation of clearer regulations and provide adequate legal protection for heirs and heirs who own digital assets in Indonesia.
Yayasan Dharma Indonesia Tercinta (Dinasti)
Title: Legal Protection for Heirs with Non-Fungible Token Heritage Objects
Description:
The development of digital technology has introduced Non-Fungible Tokens (NFT) as a form of digital asset that has its own economic value and uniqueness.
This opens up the potential for NFTs as objects of inheritance, however the traditional inheritance law system in Indonesia has not fully accommodated non-physical entities such as NFTs, especially due to unclear regulations regarding the transfer of rights to these assets after the death of the owner.
This article discusses legal protection for heirs with NFT inheritance objects.
This research uses normative or doctrinaire research methods using secondary data and a comparative legal approach, which involves analysis of relevant laws and regulations and NFT practices in several jurisdictions that have recognized the existence of NFTs.
Based on the research results, NFTs can be inherited through a general will made by a notary, olographic, or private.
However, the main challenge is access to digital wallets that store NFTs and are at risk of being lost if there is not sufficient technical information regarding access.
To overcome this, inheritance planning with a dead's man switch mechanism in smart contracts can enable the automatic transfer of NFTs to heirs.
However, legal recognition of this mechanism is still limited.
This research highlights the need for clearer regulations and legal updates in Indonesia regarding digital asset inheritance, to provide legal certainty for owners and heirs as technology develops.
It is hoped that the results of this research can contribute to the formulation of clearer regulations and provide adequate legal protection for heirs and heirs who own digital assets in Indonesia.
Related Results
NFT UNDER CONDITIONS OF CRITICAL TRANSFORMATIONS IN THE DIGITAL ASSET MARKET
NFT UNDER CONDITIONS OF CRITICAL TRANSFORMATIONS IN THE DIGITAL ASSET MARKET
The integration of information technologies into all spheres of human activity, the proliferation of online communities, and the expansion of the virtual world have precipitated a ...
NON FUNGIBLE TOKEN SEBAGAI ASET DIGITAL DALAM PANDANGAN FIQH MUAMALAH
NON FUNGIBLE TOKEN SEBAGAI ASET DIGITAL DALAM PANDANGAN FIQH MUAMALAH
The phenomenon of buying and selling online continues to grow, especially in 2022, when Ghozali shocked the Indonesian people by selling 933 non-fungible token digital works for $1...
Analisis Yuridis Transaksi Non-Fungible Token (NFT) Ditinjau Dari Undang-Undang Hak Cipta
Analisis Yuridis Transaksi Non-Fungible Token (NFT) Ditinjau Dari Undang-Undang Hak Cipta
Skripsi ini membahas mengenai analisis yuridis transaksi Non-Fungible Token (NFT) ditinjau dari Undang-Undang Hak Cipta. Transaksi Non-Fungible Token (NFT) telah menjadi fenomena y...
HAK WARIS ANTARA PARA AHLI WARIS YANG BERBEDA AGAMA DENGAN PEWARIS MENURUT HUKUM WARIS ISLAM
HAK WARIS ANTARA PARA AHLI WARIS YANG BERBEDA AGAMA DENGAN PEWARIS MENURUT HUKUM WARIS ISLAM
AbstractMarriages that have different religions can cause the offspring born from the marriage to follow a different religion. The change of religion of one or more family members ...
Uncooperative Heirs and Ignored Inheritances
Uncooperative Heirs and Ignored Inheritances
<p><span>Heirs can be categorized by how they respond to their inheritances. Most heirs gladly accept their inheritances. Others, for various reasons, disclaim their in...
The challenges and key issues in the promotion and conservation of cultural heritage
The challenges and key issues in the promotion and conservation of cultural heritage
Governmental policies and international agreements, such as the UNESCO World Heritage Convention, are evaluated to determine their impact on cultural heritage conservation. The stu...
Legal Protection For Heirs Against Inheritance
Legal Protection For Heirs Against Inheritance
Introduction: The agreement of all heirs to the transfer of land rights through sale and purchase is an important component that must be a concern for the parties who carry out the...
Responsibility of the Heirs for the Submission of Notary Protocol
Responsibility of the Heirs for the Submission of Notary Protocol
The legal responsibilities of heirs in submitting and storing notary protocols by heirs are complex because they involve various parties, procedures and legal regulations that must...

