The new PIVX wallet will introduce a Deterministic zPIV Seed; a randomly generated string of characters which will act as your “key” to restore all wallet zPIV (minted after April 7th, 2018.)
Instead of a new backup file for every zPIV mint now a single “seed” is used to restore all of your zPIV. This new seed can be used for the generation of all zPIV moving forward!
A physical copy written on a piece of paper (also referred to as a paper wallet) of the zPIV seed can provide a secondary backup and help users shed their fears of losing their zPIV due to a loss of the seed from a hardware failure. As long as the user has a physical copy of their zPIV seed, all zPIV will be recoverable even in the case of a hard drive failure.
Deterministic zPIV benefits the entire PIVX community by significantly improving the usability of zPIV, and allowing users to remain private without fear of losing their funds by simplifying the zPIV recovery process.
For more information about setting up the zPIV Deterministic Seed, check out this Reddit article by PIVX Core Developer Presstab.