It depends on the country but I agree. Being programmable money I expect better solutions to come in the future. This is a recent and interesting one https://blog.trezor.io/shamir-backup-the-revolution-of-priva...

> Based on a cryptographic algorithm created by Adi Shamir, publicly known as Shamir’s Secret Sharing, Shamir Backup is a revolution in how you use, store, and protect the backup of your private keys.

A "revolution". They just applied SSS. Hardly rocket science.