If it would 'prevent fraud' it should be possible to e.g. retrieve stolen funds. Instead, it is a mechanism to ensure money is only spent once. Cash solves thi

If it would 'prevent fraud' it should be possible to e.g. retrieve stolen funds. Instead, it is a mechanism to ensure money is only spent once. Cash solves this rather cheaply (because it is physical). Electronic money does it a lot more efficiently that bitcoin. Perhaps the power usage of all banks is higher than bitcoin, but power per transaction is a lot better.