Why no mention of chargebacks? I'd imagine this would be the #1 selling point for merchants. Chargebacks literally cripple and bankrupt many businesses due to fraudulent purchasers.
What he said... I'm also very curious why this has not been addressed in any way, shape or form. The only single mention of chargebacks is shown below in the section of the whitepaper titled "Offline Transaction Approvals". I feel like this not being addressed is a major oversight on an otherwise well thought out ecosystem. I would like to invest in this ICO, but I would be extraordinarily hesitant to do so unless I felt this glaring oversight was adequately addressed. Either that, or an explanation provided as to why it is not an important enough topic for inclusion in the Whitepaper or any of the attached literature.
I would also like to make note of the fact that while the Whitepaper itself is written in a grammatically correct, clear and concise fashion, the website and accompanying materials here and elsewhere seem as if they were written by someone who's either not a native English speaker, or not a high school graduate. Regardless, it's a bad look for the ICO and the ecosystem in general if these issues are also not properly addressed before you begin to approach multi-billion dollar companies who are among the largest in the world to attempt to strike up useful and lasting business partnerships with them...
Please attempt to answer these concerns with substantive responses, so considerate investors such as myself don't feel like we're being led down the path of the crying bagholder...
***Quoted text from Graft Whitepaper follows.***
"Offline Transaction Approvals
People familiar with payment card processing know that sometimes transaction can be approved by merchant without getting actual approval from the bank. This is called offline or local approval, or offline authorization, or sometimes S&F ("store and forward") as such offline authorization is forwarded to the server once the network is back online.
Crypto payments, however, assume that network is available 24/7, and there are no downtimes, which is not always true. In some situations, merchants take a risk and approve transactions locally because the risk of single chargeback is lower than the risk of losing multiple customers. Usually, there is a total limit amount for local authorization. After the system reaches this limit (the maximum risk), it stops issuing local approvals until the network is up again. But in case of short downtime, local authorization can go unnoticed to both cashiers and buyers.
Graft merchant point of sale app and single relay supernode will be able to process offline crypto transactions based on the same principle, if they cannot communicate to the authorization sample and get consensus, and the merchant is ready to take a risk. The decision about offline approval will be also based on buyer’s and supernode’s reputation scores."
