How thoroughly some Americans are spoiled and brainwashed by the credit card industry is beyond belief, they seem to be completely ignorant that there is a much superior method for customer protection, which Bitcoin fully supports and improves to a new level, and has been employed to process trillions of dollars of transaction in China by payment processors like Alipay, called escrowing.(shocking revelation!)

Escrowing provides equal protection for the seller and buyer, unlike chargeback, the favored system in the U.S, which unfairly protects the buyers only and allows a buyer to conveniently scam a merchant on the pretext that no good is received, because the fund is placed in the wallet of a third-party, and once there belows to neither the buyer nor the seller.

You may ask, how does the third party verify if the buyer is lying when he requests a refund? Dead and simple, all delivery companies have a auto-tracking system, which will update the escrower about the status of the package, once the buyer signs the package(which is required if he wants to accept it), the escrower will be immediately informed, there will be no way for you to lie.

I was shocked to find even Paypal doesn't support escrowing, cause the business model is beyond maturity.  It may sound crazy but I am convinced that had the U.S has proper escrowing payment and delivery industries, their unemployment problem would have been solved by now by a C2C platform like Taobao, which alone supports millions of online shops and creates 20 million jobs for China,(no kidding)

Chargeback is a dinosaur and should have long gone into the history, yet there is this journalist defending it like it's jewel in the crown.