[Repost question from CookBook]
Say I buy something online and they’re going to send a digital asset to my wallet that I keep showing ownership for something like a piece of art or a ticket to a show. And when entering the address into the web site it could have a 2FA code come up in my wallet with a six-digit number.
Or sometimes before sending a larger amount of money people will “test” the wallet address is entered correctly by sending a small amount first. But what if you could initiate a confirmation of the wallet where the person who will be receiving the transfer needs to enter in the code that pops up on their wallet as a way of confirming the accuracy of the address.
For adoption, it might save some people from accidentally sending money or assets to an address that they accidentally entered incorrectly. There have also been cases where a virus or malware would infect a computer and try to replace the receiving address with the hacker’s address so they can receive the funds. In this case, it would be difficult for the hacker to coordinate entering the wallet auth code into the system at the moment of the transaction. If the auth code isn’t entered within 30-60 seconds then the transaction is canceled and the funds are returned to the original wallet.