

Reversecoin: First crypto-currency with “Reversible Transactions” - obulpathi
http://www.reversecoin.org/

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obulpathi
How it works: With Reversecoin, you can create two different kinds of
accounts: Standard Accounts and Vault Accounts. Standard accounts behave very
much like your Bitcoin accounts and allow you to send and receive money for
daily purposes. Vault accounts behave much like you bank savings account,
where you can deposit large amount of coins and keep them safe from hackers.
Each vault account has a configurable timeout and is backed by two key pairs,
one online and one offline. You only need online keypair to transfer coins
from vault. When you transfer your coins using online keypair, your
transactions get confirmed after they live in blockchain for the timeout
period. If someone steals your online key pair and transfers coins to them,
the transactions will have to wait in block chain for the timeout period.
During which, you can use your offline key pair and reverse those transactions
and restore your coins to your other address. You can also use your offline
key pair for immediate transfer of coins in your Vault, instead of waiting for
timeout period. In a sentence, Vault account has the ease of use of hot
wallets (online account) and security of cold wallets (offline accounts).

