RESCISSION BLUES
Can the reputation mechanism be made robust? Can there be a Law Merchant on the internet if miscreants can hide behind encryption?
In some ways, Bitcoin has spawned a new wild West.
The questions then are:
Can blockchain identify a fraudulent transaction?
Will the community of users pre-agree to a readily enforceable clawback or restitution mechanism?
Reference:
https://press.swarm.city/blockchain-reputation-promoting-good-actors-in-a-free-society-8f6117069cde