Human error at the banks - can crypto solve it?
Something nuts happened to me yesterday - I saw my bank account was charged 200 eur, and as I called the bank to check what's going on, the agent said it doesn't look suspicious on their end; I must have withdrawn the money at the bank and I supposedly also blocked my debit card at the same time. When I explained I was actually at home, she suggested I visit the branch where I set up my account to log a complaint and they'll investigate it.
As that branch is about 2h away from where I live now, I tried my luck at the closest office in the city and they were able to tell me exactly which location processed the transaction and directed me there.
45 min later, I'm standing in line at supposedly the right branch. As I reach the counter, the teller immediately remembers what happened.
Turns out somebody came to the bank the day before to report they lost the card and would like to block it, and at the same withdraw 200 eur to have some cash at hand while waiting for the new card. It just so happens that the person had the same first name as me. Well, you can guess the rest.
I was then told that the money will be refunded and that it will take a week to receive a new debit card by mail. Fingers crossed. At the end, I was just relieved that we reached a conclusion (and also a bit proud of myself for not losing it right on the spot because what's done is done).
So that got me thinking - could crypto help preventing instances like this one? Smart contracts seem to work in the direction of eliminating stupid errors, but then - if you send the funds to the wrong address, forget about ever getting them back. No one to call. Nowhere to log a complaint.
Perhaps the only thing that would make you feel a little bit better about it is that at least it was your own fault.
