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Very true - this is elaborated on in the rest of this thread. Basically, the holder would have to be locked out of the private key from creation of the wallet, and there would have to be trust placed in a centralized regulatory body to issue and redeem these wallets.



The holder of the QR code can't be locked out of having the QR code.


I am not sure I buy into your statement here. I believe there is a way.


The blockchain itself is literally the way. That's why it's there. If you take it out, double spends.




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