[tyingq]

>it protects consumers and reduces crime

I don't think it reduces crime. The merchants bear the cost, and have no power or information to go after the criminals.

I think it actually encourages crime. The banks and credit card companies aren't going after people when the merchants bear the costs. The criminals get to keep the goods and services they bought with the stolen credit cards. This case seems to be a typical example.

[Wowfunhappy]

Okay, then lets do away with reversible transactions! I would have assumed it was the banks who bore the cost in the majority of cases (which makes sense, since they have the most data to detect fraud and are the ones who are supposed to be doing due diligence), but I don't know enough about this industry.

But, let's do it without a blockchain that wastes massive amounts of carbon.

Edit: Just to be clear, I'm not advocating making transactions permanent. It's an "if this, then that".

[tyingq]

The current system does protect consumers. Just saying it does not reduce crime. It just shifts who the victim is.