The analog is Visa. What would ordinarily be a huge lawsuit is settled by a private commercial arbitration process--namely, a chargeback--in case of dispute.
Courts are tremendously expensive and burdensome. There is real economic value created when someone figures out how to move what would otherwise have to go to court, to a separate arbitration process that's perceived as "fair" by everyone involved. I'm not saying that's the right solution for everyone or everything, only that courts should be a last, not first, resort, in case of dispute.
The analog is Visa. What would ordinarily be a huge lawsuit is settled by a private commercial arbitration process--namely, a chargeback--in case of dispute.
Courts are tremendously expensive and burdensome. There is real economic value created when someone figures out how to move what would otherwise have to go to court, to a separate arbitration process that's perceived as "fair" by everyone involved. I'm not saying that's the right solution for everyone or everything, only that courts should be a last, not first, resort, in case of dispute.