commerce

Besides saving the troop on credit card transaction fees, this onchain experience prevents chargebacks.

But why does that matter? Because the troops shared that people purchase cookies with Venmo and then file a fraud case to claw back the money. 🤯

why onchain commerce matters, exhibit 37261

bringing /commerce onchain. protocol engineer. founder @slice @deframe

well it is true that without chargebacks merchants get less losses, but you just flip the risk to the other side (now consumers will pay online and will get defrauded) 

Eventually chargeback risk is a zero-sum game between merchants and consumers, and the law protects consumers more than merchants

Expanding the onchain economy 🌌
idanlevin.xyz

you can still write chargeback rules on immutable smart contracts that both parties agree on purchase

what rule would you write here to eliminate the risk of the consumer sending money and not getting his cookies (in an online purchase)

a standard escrow with independent third party making the final call

so we are reverting back to Visa and that is exactly what the original post quoted said was good about crypto payments :) (no chargebacks) 

because the third party will always by definition will need to prioritize someone (either by default the merchant is right or the consumer)

should be opt-in and based on the type of purchase. makes sense for online purchases, not in person. also alt solutions might become possible.