Retrievable Transfer

2020: The announcement of the tool for canceling of transactions with bitcoins

At the end of June, 2020 the Israeli blockchain startup of Kirobo based two years before released the tool for canceling of transactions with bitcoins. He received the name Retrievable Transfer. Thus, the company found a method of problem solving, connected with human errors at transactions of cryptocurrency.

Irreversible transactions on blockchain platforms prevent fraud with reverse payments on the credit card. However in recent poll of Fio Fund of 55% of respondents announced stressful errors when sending cryptocurrency, and 18% announced an irretrievable loss of means.

Kirobo founded two years before released the tool for canceling of transactions with bitcoins

The solution Retrievable Transfer allows senders to cancel transaction if means were sent to the wrong address. Kirobo provides the unique code to the sender, and the receiver should enter the corresponding password for receiving transfer.

Until the receiver does not provide the correct code, the sender can return means at any time. [...] Kirobo does not own a personal user key and has no access to money or the destination: the password just defines, transfer is complete or not — the representative of a startup notes.

The new tool was already estimated Scorpiones Group company on cyber security and Management on innovations of Israel. According to the CEO of Kirobo Asaf Naim, the purpose of his invention — to make a blockchain transaction same simple and safe, as well as online banking. The new technology can be useful to the cryptoexchangers and the companies which are engaged a blockchain purses which want to add reversible transactions as one of the functions. The Retrievable Transfer function is already available in Ledger cryptopurse to transactions of bitcoins (BTC). It is supposed that this tool will remain free at transactions for the amount up to $1000.^[1]

You look also the Blockchain and cryptocurrency

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