Author Topic: Undo button for transactions  (Read 5 times)

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Undo button for transactions
« on: June 30, 2020, 10:32:36 PM »
An Israeli Firm Claims that they have recently developed an undo button for all Bitcoins transactions. Apparently their main goal was to tackle problems related to human errors , but then again what am scared about is , how people will use it , it can very easily be used for scamming people .


https://cointelegraph.com/news/israeli-blockchain-startup-offers-undo-button-for-bitcoin-transactions

Apparently 18% people reported loss of Funds due to human errors , thus this might serve great for them . Retrievable Transfer , as they are calling it would give the sender the power to retrieve the amount until the right code is provided by the receiver. My take on this : they are somehow using a password which needs to be provided by the receiving party and this might be super helpful in places which involves transactions of very high Amounts .

The person Aims at making these transactions as safe and secure as online banking source claims , but they are already more secure , they are just gonna add one more feature now .

It's going to be free till a transaction of 1000$  , so before you strike a deal , be careful :3 Ask about everything someone might use it in not so good way .

Amazing innovation by the way , lets see if it works ..