Israeli Blockchain Startup Kirobo Invents Undo Button for Bitcoin Transactions

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% of respondents reported experiencing stressful human errors when sending cryptocurrency, and 18% 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.