Reversible blockchain transactions would enhance cryptocurrency
A proposal out of Stanford College to make crypto transactions reversible is including a wrinkle to discussions of crime and fraud prevention. Researchers recommended that mutability — the power to reverse blockchain transactions — would assist stop crime.
One of many benefits of cryptocurrency is that it’s doable for the market — people, merchants and banks — to resolve if reversibility is needed. Not solely would a brand new (reversible) cryptocurrency be capable of take a look at the acceptance or want for reversible transactions, it will assist to check the concept reversibility reduces crime.
Brendan Cochrane is the blockchain and cryptocurrency companion at YK Regulation. He’s additionally the principal and founding father of CryptoCompli, a startup centered on the compliance wants of cryptocurrency companies.