A system and method for effectively transferring electronic information includes a transmitter with an encoder that performs a parity encoding procedure. The encoder creates parity blocks for embedding in transmission packets. The parity blocks may be based upon data segments from one or more of the transmission packets. The system also includes a receiver with a decoder that utilizes the parity blocks for performing a packet validation procedure to identify corrupted packets from among the transmission packets. The decoder also performs a packet reconstruction procedure with selected ones of the data segments and the parity blocks to produce reconstructed data segments for the corrupted packets.