How it is being designed to work
Everything on this page describes intended behaviour of a platform in development. It is a design, not a delivered product, and it may change.
The parties
A trust arrangement usually involves four roles. The settlor places assets into the arrangement. The trustee holds and administers them. The beneficiary is the person the arrangement exists for. The terms say what the trustee may and may not do.
Our design does not try to reinvent any of that. It changes only where the record lives and how quickly anybody can check it.
The intended lifecycle
1. Draft
You set out the parties, the assets and the terms. The intention is a guided flow with templates, so this takes a sitting rather than several weeks.
2. Commit
A cryptographic fingerprint of the finished deed is written to the Tron blockchain, along with a timestamp. The fingerprint proves the document existed in exactly that form at exactly that moment. The document itself is not published.
3. Verify
Anyone holding the document can check it against the chain and see immediately whether it matches what was committed. A single altered character produces a different fingerprint.
4. Administer
Amendments and events are recorded as further entries, so the arrangement has a history rather than just a current state.
What goes on chain and what does not
On chain
The fingerprint, the timestamp, and the minimum needed to identify the record.
Not on chain
Names, addresses, asset details, and the document itself. A public ledger is permanent, which is exactly why you should be careful about what you put on one.
Custody
The design is non custodial. You hold your own keys. We are building it so that we cannot move your assets, and so that losing our company would not lose your record, because the record does not live with us.
The other side of that: if you lose your keys, we cannot recover them for you. That is the trade, and it is a real one.
Cost
Traditional deed work is priced by the hour and by the intermediary. Committing a record to a public chain costs a network fee. We expect that difference to be the main practical reason to use this. We are not publishing a price yet, because the platform is not finished and a price we invent now would be a guess.