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The discussed approach presumes that incoming payments are to be scrutinized for fraud by Merchants. False Positives are an inevitable outcome, leading to sizeable lost revenue. 

In my recent post  https://www.finextra.com/blogposting/28769/pay-with-trio-the-e-commerce-breakthrough-with-stablecoins

I described a radically new approach with Payments with Integrated, Deterministic Fraud Prevention (It is much better to integrate fraud prevention into the online purchase flow than try to extract fraudulent transactions after the purchase!)

This way, false positives are excluded, and no revenue is lost.

So there is another option for consumers. Great. But what about consumer protection from fraud? 

If you go that far - try bringing something different.

Please get in touch with me directly to learn about TRIO- the Identity and Payments Ecosystem, free from Theft, Fraud, and Money Laundering. 

Excellent description of the state-of-the-art.

May I add the multi-sig wallets as an option for some?

But sometimes you want to go beyond the state-of-the-art. After all - this is your money!

TRIO GUARANTEES your crypto from LOSS and THEFT if kept in TRIO self-custodial wallet and TRIO Utility Tokens,

Very important topic. 

Is there a guarantee from loss and theft?

If you swap your crypto (say USDC) to TRIO utility tokens - the TRIO ecosystem will guarantee your tokens from Loss and Theft.  Need your crypto elsewhere - swap it back.

Unfortunately, very few are well prepared to pass on Digital Wealth.

First, you need to ensure that Crypto will not be stolen. Then you must ensure that this Crypto will be accessible for  Legal Heirs when the inevitable day comes.

TRIO ecosystem guarantees Crypto holders from Loss and Theft if kept in non-custodial TRIO wallet and TRIO utility tokens. These tokens may be swapped in USDC to guarantee their value.

The paper says:

"The holy grail of cross-border payments is a solution allowing cross-border payments to be immediate,
cheap, universal, and settled in a secure settlement medium."

It looks like TRIO payment system answers all 4 requirements NOW. No need to wait for 10 years...

This is not a ban on self hosted, non custodial crypto wallets , but a call to action for endorsement of named (identity-bound) wallets , such as TRIO.

The average Consumer will ask this simple question : Is my digital wallet for cryptocurrency is more secure than banking app. for fiat currency? The answer , at the moment , is NO. Let's discuss the cybersecurity first!