Everyone has heard about the mass of cases of fraud in the field of blockchain. Moreover, a lot of cryptocurrency users have come across personally or know people who have become victims of scammers. At the same time, fraudulent activities do not have to be directly related to the cryptocurrency. Of course, there are a lot of different fake wallets, scam cryptocurrencies and other methods of deception inherent exclusively in cryptocurrency. However, more often than not, cryptocurrency acts only as a way to receive money from the victim, ensuring that the money remains with the fraudster.
For clarity, we will consider several examples of the use of cryptocurrency by scammers. One of the most common cases is the loss of money from scam brokers, including crypto-brokers. In this case, the scammers will persuade the victim to replenish the account with the help of cryptocurrency, arguing, for example, that there is no commission. As a result, after the scammers have revealed themselves, the money cannot be returned, there is not even such an unreliable way as chargeback.
Another equally common method of fraud using cryptocurrency is the sale of a product for cryptocurrency. The development of blockchain infrastructure already makes it possible to purchase almost any goods or services using cryptocurrency. This is exactly what scammers use, receiving cryptocurrency and not transferring any goods to the buyer.
It is easy to see that cryptocurrency is a great tool for scammers for two reasons. Firstly, the anonymity that cryptocurrency provides guarantees the absence of responsibility for the deed. Secondly, the inability to return the money in any way guarantees that the fraudsters will retain their profits.
It is with the second reason for the popularity of cryptocurrency among fraudsters that Gealdest’s new development, Digital Matrix Sector 5609, must be fought.
How the Digital Matrix Sector 5609 works
Anonymity is one of the key properties of cryptocurrency, and in many respects it was anonymity that made the cryptocurrency so popular. That is why Gealdest specialists were looking for a solution to the problem in the possibility of returning cryptocurrency transactions.
The Digital Matrix Sector 5609 system put special marks on cryptocurrency transactions using certain matrix keys, which subsequently allows you to change the recipient of the transfer. Thus, a cryptocurrency transaction can be either redirected or returned to the sender.
The inner workings of the Digital Matrix Sector 5609 remain a mystery. Gealdest representatives limit themselves to general phrases only. It is absolutely clear that at the moment the company cannot boast of a significant market share and wants to squeeze the maximum possible out of its innovation. One way or another, we can say with complete confidence that the Digital Matrix Sector 5609 is not some kind of tricky trick and is indeed capable of returning cryptocurrency transactions.
An important detail of the Digital Matrix Sector 5609 is the fact that the system works exclusively with the involvement of arbitration, which excludes the possibility of unreasonable use of the transaction return.
What consequences to expect
It would be naive to hope that the spread of the ability to return cryptocurrency transactions completely and completely eradicate fraud in this area. The example of conventional banking transactions, where chargeback and other anti-fraud mechanisms have existed for a long time, demonstrates that this is clearly not enough.
One way or another, Digital Matrix Sector 5609 will drastically complicate the life of swindlers and significantly reduce their number. How will cryptocurrency react to this? First, the ability to return transactions using an independent assessment of the legality of such an action will increase the credibility of transactions with cryptocurrency from both buyers and sellers. The former will be sure of the possibility of returning the money in case of fraud, and the latter, in the fact that their payment will not be taken if everything went honestly.
Digital Matrix Sector 5609 has the potential to bring cryptocurrency to a completely new level in the near future, significantly squeezing fiat from the position of a means of payment. One way or another, the reliability of cryptocurrency transactions will increase, and the already large number of cryptocurrency users will expand. This means we will see another download of the cryptocurrency rate relative to fiat.