An Israeli Blockchain Startup Claims It’s Invented an ‘Undo’ Button for BTC Transactions

TEL AVIV, Israel – Kirobo, a two-year-old Israeli blockchain startup, announced on Tuesday that it has found a way to tackle problems related to human error in cryptocurrency transactions.

In a recent survey by the Fio Foundation, 55 percent of respondents reported experiencing stressful human errors when sending cryptocurrency, and 18 percent reported loss of funds due to such errors.

As such, Kirobo has invented “Retrievable Transfer,” a way for senders to cancel a transaction that is sent to the wrong address. Kirobo provides a unique code to the sender and the receiver has to enter the matching password in order to receive the transfer.

To read the rest of the story, click on https://cointelegraph.com/news/israeli-blockchain-startup-offers-undo-button-for-bitcoin-transactions

By Mike Brennan|2020-07-12T16:51:40-04:00July 12th, 2020|Blockchain, IoT|

About the Author: Mike Brennan

Founder of Michigan News Network, and serves as CEO, as well as Editor & Publisher of MITECHNEWS.COM. Brennan has worked since 1980 as a technology writer at newspapers in New York, NY, San Jose, CA., Seattle, WA., Memphis, TN., Detroit, MI., and London, England. He co-founded and served as managing editor of Pacific Rim News Service (SEATTLE), which developed a network of more than 100 freelance journalists in 17 Asia-Pacific countries.

15 Comments

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