There is a going to be a big business to be built on fraud risk for merchants and stablecoins.

Chasing Curiosity. Empathetic Accelerationist. Founding Fullstack Engineer @icebreaker. YC S16, KB7. 
icbk.me/tayyab.fc

Let’s say you order something on a website, idk a tshirt. You pay in stablecoins, you get underwear and the company refuses to answer your support emails. 

You can’t really ask for a refund. CC companies at least give you the ability to claim. 

Same is true for subscriptions that over charge you despite canceling.

1. How often do you chargeback online merchants? I suspect $ fraud > $ legitimate chargebacks. Probably by 100x.

So if your eliminate fraud then you get lower prices.

2. You can’t charge a wallet without approval

@backpack making money work better
anagency.xyz if you want to build something ridiculous 
/backpack
/notdevin
icebreaker.xyz/notdevin

My point is the amount of value lost to fraud (including accidental chargebacks) is significantly more than consumers protected with chargebacks against bad merchants.

Not sure I’m following your answer but accidentally chargebacks 2x+ > real fraud

Cancellation issues are a flaw of tokenization. Signature based revocation of pre-approved feels like it solves this.

Valid points. 

1. There probably is not a big business here, but still one focused on legitimate chargebacks. 

2. I’d be surprised if wallet UX doesn’t feel the same as current CC where approvals are automatic. And cancellation flaws continue to happen.