Connect with us
Apply Now

Executive Voice

Ever imagine being able to “undo” cryptocurrency mistakes? With Kirobo you can do just that.

 Who out there among us wouldn’t like having the option of using an “undo button” from time to time the wipe out those questionable decisions or accidental mistakes?

  Israeli blockchain startup, Kirobo, recently unveiled new and groundbreaking technology that will act like an “undo button” and protect cryptocurrency investors from accidental losses that were previously irreversible.

  The new technology, which is available for Bitcoin, Etherem and Trezor trading and investing, will allow users to cancel transactions sent to incorrect cryptocurrency addresses, Kirobo said. The two-year-old company’s “retrievable transfer” technology works by building a logic layer that will sit atop blockchain protocols to protect users from human error.

  Kirobo’s ultimate goal is ambitious, but an admirable one: They want to help put blockchain investing on par with online banking in terms of ease and security.

  “Our aim,” Kirobo CEO Asaf Nail said, “is to make blockchain transactions as simple and as secure as online banking.”

 To date, the company has processed over 1,000 safe transactions and more than $26 million worth of cryptocurrency. 

  In recent years, users have repeatedly cited the fear of losing funds — either through their own errors or via unscrupulous activity — as their top fear in delving deeper into cryptocurrency investing. Big believers in cryptocurrency and its vast potential in the future, Kirobo is aiming at doing what it can to remove those barriers so that more potential investors can feel safe and secure while trading cryptocurrency. Their hope is that by building in additional layers of security they will be able to remove the weak spots in the process that often prevent investors from joining the cryptocurrency trade.  

  The company’s new “undo button” protects users from sending their currency to the incorrect recipient — whether by mistakes or due to unscrupulous activities. Users do occasionally lose funds when the sender makes an error while inputting the long string of alphanumeric characters that make up cryptocurrency addresses. 

  Kirobo is able to protect investors by adding an additional layer of security that will act as a third step of verification. With Kirobo’s added protocol, transaction codes must be entered by the recipient in order to accept the transfer. From there, the sender continues to have access to funds that can be retried until a correct code is provided by the recipient. If the codes don’t match up, the sender can utilize the “undo button” function and retrieve their funds.

  Here’s another very important aspect of Kirobo that users undoubtedly will find appealing: The company says that in no way does it store or hold the private keys of a user; the code that is used to unlock the transaction simply governs the finalization of the transaction and it’s used for any sort of tracking.

  In a time when the trustworthiness of cyber security has never been more important, Kirobo has received the backing of a couple of powerful entities. The Israeli Innovation Authority, the governmental agency in charge of industrial development, has endorsed Kirobo. Also, Scorpiones Group has fully audited Kirobo, according to the company.

Follow Kirobo on Twitter, Telegram, Instagram or their website

Continue Reading

Copyright © 2022 Disrupt ™ Magazine is a Minority Owned Privately Held Company - Disrupt ™ was founder by Puerto Rican serial entrepreneur and philanthropist Tony Delgado who is on a mission to transform Latin America using the power of education and entrepreneurship.

Disrupt ™ Magazine
151 Calle San Francisco
Suite 200
San Juan, Puerto Rico, 00901

Opinions expressed by Disrupt Contributors are their own. Disrupt Magazine invites voices from many diverse walks of life to share their perspectives on our contributor platform. We are big believers in freedom of speech and while we do enforce our community guidelines, we do not actively censor stories on our platform because we want to give our contributors the freedom to express their opinions. Articles are not commissioned by our editorial team, and opinions expressed by our community contributors do not reflect the opinions of Disrupt or its employees.
We are committed to fighting the spread of misinformation online so if you feel an article on our platform goes against our community guidelines or contains false information, we do encourage you to report it. We need your help to fight the spread of misinformation. For more information please visit our Contributor Guidelines available here.

Disrupt ™ is the voice of latino entrepreneurs around the world. We are part of a movement to increase diversity in the technology industry and we are focused on using entrepreneurship to grow new economies in underserved communities both here in Puerto Rico and throughout Latin America. We enable millennials to become what they want to become in life by learning new skills and leveraging the power of the digital economy. We are living proof that all you need to succeed in this new economy is a landing page and a dream. Disrupt tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. Disrupt Magazine was designed to give the world a taste of that.