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Wait, but what if you are a consumer and you got scammed by a seller? Chargebacks are legitimate means of consumer protection.
by jhwang5 9y ago
Wait, but what if you are a consumer and you got scammed by a seller? Chargebacks are legitimate means of consumer protection.
- fnordsensei 9y agoIt IS possible (but hard) with smart contracts. Integrate with the shipping company API and the payment can be held in escrow until you sign for it plus, say, 7 days. Caveats: 1. The shipping company doesn't just throw the thing on your porch and SAY you signed for it. 2. You don't sign for it until you've inspected the item. If you don't sign for it, and seven days passes, the money is deposited back in your account. Do the same thing in reverse if you choose to send the item back. If the merchant signs for it (upon receiving the return), the money is sent back to your account. I know it's far from fool proof. There might even be a need for a "cryptocurrency compatible" shipping service in this space.
- astrange 9y agoThen I guess the bitcoin people will have to reinvent credit cards.