Reversible transactions could mitigate crypto theft — Researchers

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MiltonStone

Corporate Services
Mentor Group Gold
That's good if it works.
 

wellington

Entrepreneur
Will be used like charge back fraud.

Few years ago a customer bought of my company, then sold, then tried to do a refund through his payment provider, i provided the evidence he'd sold it, and that refunding him would be fraud, they still refunded.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
This part sounds like a bad idea.

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Under the proposed token standards, if someone has their funds stolen, they can submit a freeze request on the assets to a governance contract. This will then be followed up by a decentralized court of judges that need to quickly vote “within a day or two at most” to approve or reject the request.

---- quote end
 

JackAlabama

Entrepreneur
That's good if it works.
Will not work.
You have this in banking already where it works like that.
Also no serious case can be decided in a day or two lol, unless you trade some meaningless cheap ape or punk.

Introducing this feature will make the value prop of crypto obsolete and we can stick to banks (which I would prefer since its easy if it works)
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
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