Despite all the good news that has come out recently about adoption of Bitcoin and other Cryptocurrency, they face a major weakness when it comes to merchants adopting them that customers will complain and hate. That is the inability to reverse transactions on the blockchain(as far as I am aware of). Once a transaction is confirmed, it goes through and you cannot back out of it so you can’t really issue a chargeback or reverse a transaction if you receive a bad product. The only way to get your money back for a bad product is to have Amazon or whatever company you bought the item from issue a new transaction and send you the amount of Bitcoin that you spent on the item which is harder for merchants to track and do than just to reverse a current transaction. There are some ways to get around this but it will make customer service quite a bit harder and more complicated in the case of returns and merchants may just say that no refunds or returns are available if you choose to pay in crypto which would kill transaction volume in crypto. I am not sure how blockchain technology will deal with this but I hope they find a solution soon.
