Israeli Blockchain Startup Offers ‘Undo’ Button for Bitcoin Transactions
Kirobo, a two-year-old Israeli blockchain startup, announced on June 30 that it has found a way to tackle problems related to human error in cryptocurrency transactions. As such, Kirobo has invented “Retrievable Transfer,” a way for senders to cancel a transaction that is sent to the wrong address.
“Until the right code has been provided by the recipient, the sender can retrieve the funds at any time .. Kirobo does not hold the user’s private key and has no access whatsoever to the funds or their destination: the password simply governs whether the transfer is finalized or not,” the startup said. Retrievable Transfer is the first product released by Kirobo, which is looking to add a logic layer into blockchains that protects users from human error.