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 instructed that mutability — the flexibility to reverse blockchain transactions — would assist forestall crime.
One of many benefits of cryptocurrency is that it’s attainable for the market — people, merchants and banks — to determine if reversibility is needed. Not solely would a brand new (reversible) cryptocurrency be capable to check the acceptance or want for reversible transactions, it might assist to check the concept reversibility reduces crime.
Brendan Cochrane is the blockchain and cryptocurrency associate at YK Regulation. He’s additionally the principal and founding father of CryptoCompli, a startup centered on the compliance wants of cryptocurrency companies.