Godchild is an ethereum contract for sponsoring a godchild. The child is given a paper wallet as a gift. What I like about this contract is that it is really long-term. Payout is only possible after 18 years. It shows optimism and trust in ethereum to create such a contract.
This is work in progress - do not use it, yet!
Usually, when a child is baptized the godparent will give a present to the baby. Since babies usually don't care much for presents, the gift often is money or a savings account. When the kid grows up it can then benefit (e.g. when turning 18).
- All is public - is that desirable for a contract like that?
- What happens if the child looses access to her/his account before payout day?
- Anyone can send funds to the contract at anytime
- There should be an option for the godparent to get back the money 5 or 10 years after the payout date.
- Should there be an option for emergency payout even before the set payout date?
- The legacy message left by the godparent could be encrypted using the public key of the child account (see https://bitcointalk.org/index.php?topic=627927.0 ). So they are not visible for anyone else looking at the contract on the blockchain. Of course - if the beneficiary wanted to she/he could look at the message anytime. Any ideas for making this trustless?
- There is no interest rate - we can only hope in 18 years ethereum is worth more than now...
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