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That is in there because of the core obsolete design flaw I pointed out -- credit card credentials are master keys authorizing arbitrary transactions. This is b
by ilaksh 2y ago
That is in there because of the core obsolete design flaw I pointed out -- credit card credentials are master keys authorizing arbitrary transactions. This is because it is an obsolete design that predates modern ubiquitous cryptography.
- lxgr 2y agoDispute resolution, for non-fraud disputes, is completely orthogonal with fraud that happens due to insecure cardholder authentication. What if the seller goes bankrupt after accepting payment, but before shipping an order? What if they're an outright scammer? What if the buyer says they are, but the real scammer is the buyer? Somebody's got to figure all of that stuff out. The established card schemes provide a framework for that. It's flawed, it's taking a ton of automated and manual resources, nobody in their right mind would rebuild the same thing if given the opportunity from scratch, but it's there and it kind of works. That's a lot better than what crypto has to offer.