It's a bolt on the hinge of a folding chair. No idea what the actual proper name for it is, though.
Can it be removed without destroying it or any part of the chair itself?
Any advice is appreciated! Thank you!
A machine screw with a crown nut and lock washer would work well. At least the crown nut would make for a nice smooth cap.
Those machine rivets are hard to beat for clamping strength with minimal exposed fastener.