Earlier quoted context omitted.
These are often undesirable features for SMEs that need to be accountable for a variety of reasons, including KYC regulations; besides, while blockchains provide protocol-level security, they fail in two ways that do matter to consumers: - They provide no meaningful consumer protections (since this necessarily requires an authority, which blockchains may not have) - They don't protect at all against meatspace vulnera…
Cash has no consumer protections. I use it all the time. I don't expect to have any consumer protections from crypto either.
Or less snarky: it's simply harder to steal something or defraud someone in meatspace than in the Internet, so less protection should be necessary.