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A comment on Wall Street rethinks blockchain projects as euphoria meets reality. Parent comment

Re:Wall Street rethinks blockchain projects as euphoria meet... by chrisco255 on Friday March 30, 2018 @02:14AM (#16714080)
Transactions aren't "undone". In the event of fraudulent charges to your bank account, they simply eat the cost and comp you. As a result, some portion of the fees that you pay to bank are dedicated to these fraudulent charges.
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Re:Wall Street rethinks blockchain projects as euphoria meet... by bestnameever on Friday March 30, 2018 @06:09AM (#16714957)
> they simply eat the cost and comp you. As a result, some portion of the fees that you pay to bank are dedicated to these fraudulent charges.

It is important to note that "they" is usually the company that charged the card, not the bank or merchant processor. It is very similar to receiving a refund.

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