I am wondering, can we not devise an effective and special technology that can be utilize in case of hacks or frauds? Given the advances of cryptocurrency and the blockchain we are experiencing right now, is it even possible?
This is a problem with Bitcoin because its transaction is irreversible and we can no longer recover our bitcoins stolen by hackers. And so far this problem has not been solved and it may not be solved as bitcoin is not controlled by anyone. So if it is possible that bitcoin creator Satoshi Nakamoto is still alive it can be paid attention and solved.