Market Trend Insight: Will Web3 Payments Enter the Era of “7-Day Unconditional Refund”? Circle Launches Refund Protocol to Solve the Trust Dilemma in Commercial Payments

Market Trend Insight: Will Web3 Payment Usher in the Era of "7-Day Unconditional Refund"? Circle Launches Refund Protocol to Break Through Commercial Payment Trust Dilemma How can you easily grasp the market hotspots, technological trends, ecosystem progress, and governance dynamics happening in the Web3 industry? The "Market Trend Insight" column launched by Web3Caff Research will delve into first-line exploration of current hot events, providing value interpretation, commentary, and principle analysis. Looking beyond the phenomenon to its essence, immediately follow us to quickly capture the frontline market trends of Web3. Author: wuyue.eth, Web3Caff Research Researcher Cover: Logo from this project, Typography by Web3Caff Research Word Count: Over 3200 words The current stablecoin payment system has obvious shortcomings in dispute resolution mechanisms. The irreversible nature similar to cash transactions largely limits its application potential in commercial scenarios. Compared to the well-established dispute handling mechanism of credit card payments, stablecoin payments cannot be canceled once completed, which means that when product defects or transaction disputes occur, there is a lack of standardized resolution channels. This mechanism deficiency forces merchants to bear higher fraud risks and compels consumers to establish sufficient trust before transactions, essentially reverting Web3 payments to the trust model of traditional cash transactions.