BlockCAT Technologies, a company that allows anyone to create, manage and deploy smart contracts on the Ethereum blockchain with no programming required today launched Tabby Pay. It is a smart contract that’s built to prevent user error. If you send Ether (ETH) to the wrong wallet, you can cancel the payment and your Ether will be returned. BlockCAT recently conducted a survey in which the findings reveal 74% of users own their private key to their primary wallet, 94% worry about making a mistake when sending crypto, and 11% have actually sent their crypto to the wrong address.
Now users can interact with Tabby Pay’s simple web-based UI to send Ether payments to anyone with a Web3 enabled wallet quickly and easily. The masterpiece is that users can actually cancel payments after they’ve been started. TabbyPay is, in fact, stopping the payment before it ever gets sent to the network, the app requires the recipient to confirm their receiving wallet. So if a user makes a typo entering a wallet address, the intended recipient cannot complete the payment, and the Ether will be returned.
The BlockCAT team stated:
“Think back to your first foray into crypto. How many tutorials did you read before signing up for your first exchange? How careful were you when setting up your first wallet? How anxious were you when you sent your first transaction?”
“These pain points are very real barriers to entry for a lot of potential users. And while there are a number of companies working on easy, straightforward solutions to some of these problems, few have stepped up to tackle one of the most common and stressful pain points of all: preventing user error.”