Earlier quoted context omitted.
In some ways, Visa and Mastercard are the privatized court systems of the internet. Agreed. A dispute resolution mechanism baked-in would go a long way toward making crypto a more viable alternative, especially if it delivered more effective justice than the credit card companies' stale policies and their opaque decision makers who don't really give a crap.
some arbitrary "justice algorithm" OTOH would "give a crap" ? I mean you are indicating an algorithmic system towards dispute resolution that just takes the bits from one party or the other, right? having "people" do it means you have authoritarian figures involved which I thought not having that was the whole point of crypto.
Systems of justice are probably the earliest institutions of civilization, and have evolved over millenia. There's lots of runway to learn from what's worked and what hasn't.
A potential starting point might be an arbitration approach where multiple parties are selected at random from a pool of candidates who gradually build reputation as fair and impartial adjudicators. They'd review evidence and arguments independantly and issue their vote for the verdict.
Commerce, including crypto, is as much about people as it is anything else.
