Hi Sumanth, this was a good read.
bitcartel
1

Thanks for sharing the links. Both these features seem to support viewing of incoming transactions. However, they do not allow viewing of the address of the sender.

To prove authenticity of a transaction, the sender has to be authenticated through a signature. I will link Jimmy Nguyen’s post — https://nchain.com/en/blog/risk-of-segwit-us-contract-law/ which explains how signatures matter for legal authentication.