Circle Bullish on Chargeback Tokens

Circle Research and Stanford's Applied Cryptography Group introduced two open source projects, a Recoverable Token standard and R-Pools, to address theft and the lack of reversibility in on-chain payments. The article says that between 2021 and 2023, close to $10B was stolen in illicit theft and attacks on blockchain-based financial systems. The Recoverable Token standard enables transfers to be revoked through configurable mechanisms for commerce and DeFi, while R-Pools, proposed by Circle and Stanford at the ACM-CCS conference, act as an insurance and liquidity model where token holders can redeem through an insurance pool. Circle says it is optimistic that developers will build safer on-chain financial products.