Refunds and chargebacks are common in traditional payment systems, but stablecoin transactions lack these protections. Circle's Refund Protocol aims to address this gap by providing a structured, tamper-proof way to handle disputes. Unlike traditional methods, stablecoin payments are generally irreversible, making payers hesitant to use them for daily purchases. The protocol limits the arbiter's powers to dispute resolution, ensuring transparency and non-custodial control over funds. By predefining refund addresses and offering a decentralized framework, the protocol enhances security and user autonomy in stablecoin transactions. It also bridges the trust gap in crypto commerce by mimicking familiar refund experiences in a decentralized manner. However, challenges remain in achieving widespread adoption and seamless functionality, which are crucial for its scalability and integration into global payment systems. Read more AI-generated news on: https://app.chaingpt.org/news