> A transaction can be reversed even 6 months down the line, as anyone who runs a business probably knows.
This is a feature, not a bug. I'd want to see evidence that the total cost of fraud in crypto is less per user than the cost of fraud in traditional credit. I would guess that the cost of fraud in traditional credit is actually far lower because reversibility reduces the incentive to commit fraud. It's very difficult to steal money from someone's account because they can dispute the charge and get it back.
Compare that to the case where your crypto account is hacked. There is zero recourse, the thief generally gets away with it scott free, so the incentives to commit fraud are huge.
This is a feature, not a bug. I'd want to see evidence that the total cost of fraud in crypto is less per user than the cost of fraud in traditional credit. I would guess that the cost of fraud in traditional credit is actually far lower because reversibility reduces the incentive to commit fraud. It's very difficult to steal money from someone's account because they can dispute the charge and get it back.
Compare that to the case where your crypto account is hacked. There is zero recourse, the thief generally gets away with it scott free, so the incentives to commit fraud are huge.