Part 7/12:
He presents a hypothetical example: a buyer and seller could use a multi-sig escrow with a delayed transaction to ensure payment is only completed after a certain period, allowing for the possibility of dispute resolution. Like credit card chargebacks, this method provides protections without sacrificing Bitcoin’s inherent security. An escrow agent or arbitration service can intervene, issuing reverse transactions if issues arise—creating an adaptable, market-driven model for dispute resolution.
This “softening” enriches Bitcoin’s capabilities, allowing the creation of systems that balance security with flexibility—something that traditional banks and financial institutions, bound by complex layers of compliance and intermediary trust, cannot do as seamlessly.