Kirobo, a 2-twelvemonth-former Israeli blockchain startup, announced on Tuesday that it has found a way to tackle bug related to homo error in cryptocurrency transactions.

In a contempo survey by the Fio Foundation, 55% of respondents reported experiencing stressful man errors when sending cryptocurrency, and eighteen% reported loss of funds due to such errors.

Every bit 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.

"Until the right code has been provided by the recipient, the sender can retrieve the funds at whatever time. [...] Kirobo does non agree the user'south private fundamental and has no admission whatsoever to the funds or their destination: the password simply governs whether the transfer is finalized or not," the startup said.

The platform has reportedly been audited by cyber intelligence visitor Scorpiones Grouping and is supported by the Israel Innovation Authority.

The aim of its invention, according to Kirobo CEO Asaf Naim, is to brand blockchain transactions as piece of cake and secure as online banking. 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.

Kirobo said the Retrievable Transfer characteristic is at present available on the Ledger crypto wallet for Bitcoin (BTC) transactions, and will purportedly remain costless for transaction amounts up to $1,000.