Making regular crypto payments? You need an UNDO button

Making regular crypto payments? You need an UNDO button 

Businesses worldwide are beginning to offer their employees, suppliers and partners the option of receiving payment in cryptocurrency. If your business is one of the early adopters - or if you send transactions regularly for any reason - you'll know the dangers that this technology can present, and how badly the industry was in need of a non-custodial safety net.

Kirobo Safe Transfer provides exactly this, enabling you to protect your transfers and even undo them if something goes wrong. It’s a game-changer in an industry that’s about to take over the world. 

 

A whole new world

The crypto ecosystem currently processes more than $130 billion on a daily basis, and the value of the market surpassed the trillion-dollar mark a long time ago. Given these impressive numbers, it's surprising that it took fourteen years for a solution to be found to the simplest of things - getting your money back if you make a simple, human mistake. Crypto interfaces still lack the convenience and safety of online banking, where user interfaces are intuitive, and where the infrastructure exists to contest operations made in error or as a result of fraud. Blockchain technology puts full responsibility for funds in the hands of the holder. This is what makes it attractive, but one upshot is that once funds are sent to a blockchain address, they can't be taken back by anyone apart from the owner of that wallet.

This lack of a safety net has had two effects on the industry. First, it has put a dampener on adoption rates, as users avoid the insecurity of a technology that can't guarantee the safety of their funds. This is especially true for businesses, which typically deal with much larger sums. Secondly, it has pushed those that do use cryptocurrency into the arms of centralized solutions, that is, companies that require them to give up custody of their assets in order to use a service. The advantage of this is that there is at least some measure of insurance against loss, but the disadvantage is that it creates a huge risk of theft. And when crypto assets are stolen by way of hackers or scams, there's no way they can be retrieved. They can be frozen, but that is little comfort to those who've lost their money.

What's sorely needed is a non-custodial way to protect transfers, and even to undo them if something isn't right. Kirobo Safe Transfer provides exactly that.

 

Big problem, simple solution

Kirobo Safe Transfer lets you password-protect each of your crypto transactions. All you need to do is send the transfer and communicate the password to the intended recipient via an independent channel. Once that person receives a pending transaction, they enter the password and collect. If they can't, then you can undo the transaction.

The attractive and simple interface also lets you attach a note to each transaction, which aids in bookkeeping obligations, and displays your transaction history in an easy-to-understand way.

Most importantly, the system is completely non-custodial. Your funds do not leave your control until accepted by the correct recipient. Nor is the system reliant on the continued operation of Kirobo - if we were to have downtime, the undo button would still work. 

Of course, under the hood the technology is not so simple - the authentication system is multi-faceted, hashing the password twice and linking it between sender and recipient. This means that even if a password was somehow intercepted, it would be of no use to the thief.

 

Explore the future, safely

Blockchain technology isn’t going anywhere, and it's only a matter of time before businesses will need to offer it as a payment option to their employees, suppliers and partners. This is especially as the younger generation enters the workforce and employers look to attract the best and brightest of them.

Make sure you're safe while stepping into the future – use Kirobo Safe Transfer NOW. 



Kirobo’s decentralized applications remove the risk of losing funds enabling you to use blockchain technology to its fullest potential from one consolidated platform Join us!