According to a recent report from the Financial Times, Circle, the leading Stablecoin publisher, is exploring a refund mechanism.
Given that irreversible transactions are considered to be the key spirit of crypto, this feature is very likely to be controversial.
That said, according to Circle President Heath Tarbert, it will be possible to bring the crypto industry closer to mainstream finance.
You may use irreversible transactions to fight fraud and prevent various conflicts.
Tarbert acknowledges that the current financial system has certain advantages that do not exist in crypto.
“attack”
In August, the circle announced that it would launch a blockchain focused on Stablecoin, called ARK.
However, some critics argue that calling a new project a blockchain is too generous due to its extreme centralization. The unnamed venture capitalist cited by the Financial Times even described it as “aggressive.”
The circle claims that payments can be reversed with the help of additional lawyers.
Providing confidentiality
Apart from testing reversible transactions, Circle is also considering increasing transaction confidentiality. Clients can hide certain amounts that they are transferring with the help of the blockchain, but transactions are still visible.
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