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Yeah, it's true that chargeback is not possible in the same way in cryptocurrencies, so there is just an inherent risk vector there. I think it would be possib
by shiohime 5y ago
Yeah, it's true that chargeback is not possible in the same way in cryptocurrencies, so there is just an inherent risk vector there.
I think it would be possible, and likely, that there could be a marketplace / service specifically for high-end art, that could have built in functionality that explicitly makes their pieces immutable.
But really I do think it kind of comes with the territory in some ways, when it comes to refunds. I think for instance I could create a service that allows for refunds on the initial sale from me as a provider, however if you buy something from the secondhand market, you wouldn't be able to receive a refund from me as a producer, you'd have to work with the secondhand market / user you bought it from personally.
It's possible to create trustworthy products and platforms I think. But yeah, right now there exists no easy mechanism to get a chargeback, nor do I think there likely will ever be such a thing on most chains, as chargebacks rely on centralization (banks) to transfer funds to your account.
Also thanks for sharing that link, I've never heard of the site and it's pretty interesting.