"None of those provide any real safeguards". Don't you feel like this is an overstatement? Like if Microsoft commits a fraud I can sue Microsoft. Like yes it's possible that in the future these safeguards wont' be available, but having real legal entities with known individuals you can have a trust based relationship in society is of tremendous value. Knowing that your counter-party in a transaction has repetitional risk is definitely beneficial.
Re:Pay for Uber with Bitcoin
by snogglethorpe on Thursday September 17, 2015 @11:26PM
(#10237353)
... and frankly, at least in a country with a stable legal system, it's a slight bit of comfort to know that if all else fails (hopefully it never reaches that point of course), the police can go and arrest somebody that caused us harm, and/or seize their assets.
I agree. I'm curious, however, to know what the D&B replacement will be for these types of operations in the future.
I believe CoinsSource provided a trust index for altcoin developers at one point [0], and it looks like Bitrated has a web-of-trust-based system for bitcoin-denominated transactions [1].
[0] https://www.cryptocoinsnews.com/cryptocurrency-trust-index-d...
This will be more and more common and isn't a bad thing. None of those provide any real safeguards and frankly, private domain registration is pretty common. I wouldn't dump > a half weeks paycheck in there, but measuring risk and reputation will no longer be a simple BBB or Dun and Bradstreet lookup.