An escrow agent is a third-party intermediary that holds funds or assets on behalf of two parties involved in a transaction until certain conditions are met. In order to ensure that the escrow agent is impartial and unbiased, a business can use a digital escrow system like Castler.
Castler is a secure and transparent digital escrow platform that uses smart contracts to automate the escrow process. The platform ensures that the escrow agent is impartial and unbiased by using a decentralized network of nodes to verify and execute transactions. This means that no single party has control over the escrow process, and all parties involved can trust that the funds or assets will be held securely until the conditions of the transaction are met.
In addition, Castler provides a transparent and auditable record of all transactions, which can be accessed by all parties involved. This ensures that there is no room for fraud or manipulation, and all parties can have confidence in the integrity of the escrow process. Overall, using a digital escrow system like Castler can provide businesses with a secure and impartial way to manage transactions and protect their assets.