Earlier quoted context omitted.
huh? visa pays me 2%, not the other way around. I don't pay 2% more when I use my cc instead of cash, rather, I receive rewards. You could claim that the grocery store has to increase prices due to the fees that visa charges them, but I think you'd be wrong: visa provides a service that is cheaper than the store handling cash (security, transportation, slower transactions etc). Visa also provides a service to me, whi…
> if someone steals my card and buys groceries, I can get my money back. No crypto system will ever support that. Why not? If it's been implemented by VISA then it can be implemented elsewhere. Your essentially talking about insurance and risk management, both of which can be done on-chain.
Because it requires a central authority to arbitrate disputes.