3 ms·

Transactions with finality are a bug, not a feature. Reversing a transaction (under certain circumstances) is enshrined in the almost the entire history of US c

by smt88 3y ago

Transactions with finality are a bug, not a feature. Reversing a transaction (under certain circumstances) is enshrined in the almost the entire history of US common law and is protected in federal statutes. A money transfer system that prohibits reversals doesn't reflect what money needs to do.

hahajk 3y ago
Wait, how so? Didn't most transactions take place in cash for most of history? Cash isn't reversible.
- KptMarchewa 3y ago
  Cash is reversible in a way that you find person that you exhanged goods and services with and they give you your money back, whether voluntarily or forced by court order.
  - eviks 3y ago
    So no different from the previous Zelle model
dnissley 3y ago
It's quite interesting that cash escapes such criticisms by virtue of simply not being a "system". Perhaps crypto will win this space after all.
- smt88 3y ago
  Cash transactions are also reversible if there is evidence they happened and a desire to take it to court.
  - mvid 3y ago
    By this logic Zelle and crypto are also reversible
deleted 3y ago
[deleted]