Implementing New Updates in Current Worlds

It's pretty inconvenient to have world that's been going on for a long time and having a new update come out. If it's a world that has been heavily explored, you need to travel crazy long distances to get new generation with the new features. I've been playing on a shared world for a few years now, and when the latest update came out, we had to travel about 15,000 blocks away and set up a new base just to get the new features. There should be a feature that allows you to keep existing parts of your world, while the rest of the world gets completely regenerated using the latest version of the game. This could be set up using a map and coordinate system, where you select a boundary around an area you'd like to keep. In this example, we could make a boundary of our original base and no blocks will change in that section, but everything outside of that will be reset with the new updated features.