Changpeng Zhao, founder and former CEO of Binance, has raised an important issue regarding the inheritance of digital assets on crypto platforms, urging the development of features that allow users to plan how their assets should be distributed after they pass away.
Need for 'Will Function'
In a June 19 social media post, Zhao emphasized that crypto platforms should build a 'will function' that allows users to decide how their assets should be passed on. He noted, 'This is a topic people avoid, but the fact is, humans cannot live forever yet.'
Lack of Current Crypto Platforms
Zhao pointed out that despite the increasing popularity of cryptocurrencies as a wealth storage tool, most platforms lack clear procedures for asset transfer after death, potentially leaving families in difficult situations unexpectedly.
Community Reactions and Future of Inheritance
Users and experts note the shortcomings of current systems, emphasizing the need for similar inheritance functions to help families in asset transfer processes. Zhao also expressed the opinion that minors should be allowed to own digital assets, albeit in a limited capacity.
Changpeng Zhao's remarks on asset inheritance raise an important question about the future of cryptocurrencies and the need for reliable mechanisms for asset transfer, particularly as the popularity of digital currencies continues to grow.
