good post @kingscrown. always good to hear about new initiatives. (part of the steemit attraction) and it's an interesting argument but I also kind of agree with @crypticat (cats are so good at spotting perceptual glitches) with the idea of no refunds being a slight misnomer.

I think the perception is that there's no possibility of refunds, because in theory you may never find out who a particular wallet belongs to but if you are buying something from a business and they give you an address then you do.. and then it's no different to any other method of payment. Reputation is what most business is built on and if someone sells you something that's broken or not fit for purpose, it's generally in their own interest to issue refunds.. crypto, cash or whatever else you paid in ! There are a lot of payment projects popping up recently so it's anyone's guess who will survive and flourish.. I'm guessing there's room for several players with different approaches and I suppose those who establish existing business partnerships /offer lowest fees will fare better in the long run. look at cobinhood. zero fee exchange. I think they will do ok and may end up getting / absorbed (gobbled up) by the big fish later on