What is the successful liability shift in the context of cryptocurrency?

1 answers

• Lambert SallingOct 05, 2023 · 2 years ago
  The successful liability shift in the context of cryptocurrency is a significant development that has improved the security and trustworthiness of digital currency transactions. In the traditional financial system, customers are often held liable for fraudulent transactions on their accounts. However, with the advent of cryptocurrency and blockchain technology, this liability has been successfully shifted to the merchant or payment processor. This means that if a fraudulent transaction occurs, the merchant or payment processor is responsible for the losses, rather than the customer. This shift in liability has made cryptocurrency transactions more secure and has increased confidence in the digital currency ecosystem.
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