Can you explain the scheme in which a user would be authenticated and authorized under a credit-card-like-account that would not be open to the kind of fraud we

Can you explain the scheme in which a user would be authenticated and authorized under a credit-card-like-account that would not be open to the kind of fraud we see on credit cards currently? And you're right, what implies that fraud isn't a huge drain on the economy is that it comes from massively increased liquidity. Fraud is a biproduct of increased liquidity. I don't know how many times I have to scream this in this thread. If you aren't addressing the increased liquidity offered by cards you are missing a massive part of the equation.