To be honest, the 'reversal risk' issue is a red herring. Consumers are not going to be thrilled about storing their money in a system where there's no officia

To be honest, the 'reversal risk' issue is a red herring. Consumers are not going to be thrilled about storing their money in a system where there's no official "if your account gets compromised or suffers a technical difficulty, you'll be made whole" policy. If it turns into a knock-on situation where they buy third-party insurance at their expense, it looks even worse. For merchants, even if not technically required, legitimate players are going to have to find a way to bolt refunds onto such a system. The risk to reputation would be too great-- nobody wants to be known as "this is where people go to buy stuff with stolen crypto because they never refund." And this will be priced into things, just like now they have to price in losses due to bad cheques and stolen cards. What's the best a perfect crypto dream can offer? An appeal to super-high-risk (and outright fraud) merchants who might benefit from not having surprise clawbacks and chargeback fees.