Crypto assets enter the inheritance era? Binance founder CZ suggests that the platform launch an asset inheritance mechanism

Changpeng Zhao (CZ), founder and former CEO of Binance, recently posted on social media, calling on the crypto industry to promote the establishment of a "will function" so that after the user's death, his digital assets can be distributed to designated accounts in the manner and proportion specified during his lifetime. This move is intended to provide a systematic solution to the inheritance of crypto assets.

CZ said that although talking about death is still a sensitive topic, with the increasing popularity of crypto assets, the issue of legal inheritance has become a real need that the industry has to face. He pointed out that the vast majority of crypto platforms are not yet equipped with relevant functions, and there is a risk of "locking" or permanently losing user assets, which urgently needs to be solved through product functions and policy coordination.

In terms of specific suggestions, CZ believes that crypto platforms should provide a will or trust mechanism similar to traditional finance, allowing users to set inheritance plans, such as dividing assets into different accounts in proportion, and setting a cooling-off period or trigger mechanism (such as an account that has not been logged in for a long time). He also suggested that regulators should consider allowing minors to legally own digital asset accounts on the premise of ensuring safety, for the purpose of accepting inheritance but restricting active trading operations.

"We need to build a sustainable, cross-generational crypto asset management mechanism, rather than locking digital wealth in the hands of one generation," CZ wrote.

At present, the legal and technical system surrounding crypto asset inheritance is still in its early stages worldwide, and many users have encountered situations in which they cannot retrieve their assets after their relatives die. Although some wallet projects have tried solutions such as "multi-signature authorization" or "social recovery", they still face the difficult problem of balancing legal effectiveness, privacy protection and security.

Industry insiders generally believe that CZ's call reflects the necessary process for the crypto industry to mature. As more families and high-net-worth users incorporate digital assets into their wealth allocation, ensuring their cross-generational inheritance is becoming an issue that platforms and regulators must face. The promotion of the "will function" of crypto assets may become an important part of the improvement of Web3 infrastructure.