Blockchain technology and cryptocurrency are relatively new fields and have many new things and mechanisms that are completely based on software rules and codes that prevent human intervention.

Yesterday, September 12th, the founder and CEO of Binance shared the story of a user who had an unfortunate accident that lost $20,000 in the blink of an eye.

In a tweet, the Binance founder revealed the story of an unnamed user who sent 800 BNB (around $20,000) to the wrong address.

The transaction was made on the new Binance Smart Chain blockchain.

This unfortunate user begged Binance to intervene and help, arguing that Binance was responsible for the development of this new network.

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Tell CZ said he was thinking about the idea of ​​helping this person not to lose his money, and brought up the topic for discussion, which revolves around the question:

Is it worth interfering in the interest of users’ security, or should code law be respected and no matter what happens to the community?

A man just sent 800 #BNB ($20,000) to a smart contract address by mistake on the Binance Smart Chain. It burns effectively (permanently stuck). He’s pleading for our help now. We can make it complete by deducting that amount from the next burn. Should we do it?

– CZ Binance (@cz_binance) September 12, 2020

The code is the law:

Much of the community criticized the idea of ​​even considering the possibility of intervention.

They mainly questioned the risks of intervening and jeopardizing the decentralization of the project.

The belief that code and code should prevail ensures the stability of the network without changes or manipulations of any kind.

A decentralized network specifically prevents a single entity from owning this power and using it for good or evil.

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Others assert that if the founder of Binance helps this user, it will fall into a spiral because it will set a precedent so that any other user who wants to reverse a transaction will have the right to do so.

For these code fanatics, the idea that everyone holds their own bank implies that everyone should be held accountable for their actions.

Anyone who wants to reverse the error should stay with the old financial institutions.

On the other side:

Another group of people asked for some sympathy for the victim, emphasizing that for cryptocurrencies and blockchain technologies to achieve global adoption, people must have a certain level of protection in such cases.

The problem of “human error” is one of the main recurring problems and therefore there should be guarantee for non-experts and the availability of some safety mechanisms in a global adoption scenario.

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Although the community agrees to implement corrective measures, they also stressed that prevention is essential, and check well before undertaking any financial transaction in cryptocurrency.

Some have even suggested developing functionality within the smart contract programming language to prevent errors when sending money to wrong addresses.

Binance founder comment:

CZ, founder of Binance, commented that Binance will take action without providing further clarification.

Perhaps soon, such errors can be prevented, but this is only possible for the time being for cryptocurrencies that have a central component.

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