Changpeng Zhao: Exchanges Should Introduce Cryptocurrency Bequest Function

Binance founder Changpeng Zhao suggested that crypto platforms implement a mechanism for distributing digital assets in the event of a user's death. According to him, people should be able to specify in advance to whom and in what shares their funds will be transferred. This is reported by RBC Crypto.

“This is a topic that is usually avoided, but the fact remains that people do not live forever. Every platform should provide a will function so that assets can be transferred to designated beneficiaries in predetermined proportions,” Zhao wrote in X.

The reason for the comment was the Binance update on June 12, which introduced the emergency contact and inheritance feature. The user can specify a trusted person who will receive a notification in case of prolonged inactivity and will be able to apply for access to assets.

One panelist called the feature “really thoughtful,” noting that over $1 billion in assets go unclaimed in the crypto industry each year. Others emphasized that it’s important in the Web3 space to be able to transfer not just tokens, but also digital legacy — accounts, content, and community influence.

Источник: cryptocurrency.tech