Binance's founder CZ: “There must be a testament function against the death of the crypto
Changpeng, the founder and former CEO of Binance, Zhao, Zhao, has brought up a frequently ignored issue in the crypto world: the transfer of digital assets after death. CZ said that all crypto platforms should develop a "testament function" that will allow users to transfer their digital assets to the identified people in the case of death. For this purpose, Binance officially added the emergency and inheritance notification feature to the platform.
“Emergency and Heritage” update from Binance
With the update on June 12, users will now be able to set a “emergency person”.
If the user does not access his account for a long time, the system will send notification to this person.
Then this person will be able to request a inheritance as a designated.
This feature aims to prevent the loss of crypto assets in wallets.
🗣️ CZ: “We avoid talking about this, but it is inevitable”
CZ said in a statement on the X (Old Twitter) platform:
“This is a subject that people avoid talking. But the truth is that no one can live forever. Every platform should establish a system in which the assets will be transferred at the determined rates in case of death.”
📊 Every year, 1 billion dollars of crypto assets disappear
X user Cryptobravehq described this feature as “really thoughtful ve and said that more than $ 1 billion crypto assets remain unattended because of the death of users each year.
Another user argued that platforms such as UNİSWAP12 and Binance are not only assets, but also community reputation, content and social value, and therefore the full account period should be planned.
📚 Legal Dimension: How should crypto will be?
Dubai -based lawyer Irina Heaver told Cointelegraph, most of the crypto investors are in the 27–42 age range and did not care about the inheritance planning of this group.
According to Heaver, it is not enough to prepare a testament; In this testament, technical instructions on how to access assets should be included.
🧭 A new layer of trust in the world of web3
The user Ghazi interpreted this feature as ik a reality that we cannot ignore, and the user named Binn described it as a step step to real decentralization ”.
Investors will now be sure to act confidently that their digital assets will “disappear in the background”.
The crypto world evolves rapidly with technology, but the legal and ethical infrastructure is still inadequate in the face of the natural realities of human life. This step of Binance can be groundbreased in terms of digital heritage safety. CZ’s call is not only for Binance, but also to all sector actors: their fate should be planned after their death.
