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.
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