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by exporectomy
1724 days ago
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How would any reversals be decided without a benevolent God? I've shown that traditional finance can't do it "correctly". Apparently smart contracts can't either. Courts can't because the law is sometimes ambiguous and unknown before it's tested in court. Traditional contracts can't because people get tricked by not reading the fine print. I think nobody can except an imaginary benevolent God. If you just call the boss of reversals and say "sorry I made a terrible mistake, please reverse the payment", how can he trust that you're not the fraudster yourself? Even in the case in this article, how can any 3rd party truly know that it was a mistake and not just someone pretending it was a mistake so they can get it back? Blockchain solves the problem of chargeback fraud. It's one specific class of fraud but it's solved by that technology even if other classes of fraud are created. |
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