Castler closes Pre-Series A funding of $6 Million led by Flipkart, Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

How can these risks be minimized?

Castler Digital Identifier system is a platform that facilitates secure transactions between buyers and sellers by holding funds in escrow until the terms of the transaction are met. However, there are still risks associated with using an escrow system, such as fraud, disputes, and technical glitches. To minimize these risks, Castler employs several measures.

Firstly, Castler verifies the identity of all users and conducts background checks to ensure that they are legitimate. This helps to prevent fraud and scams. Secondly, Castler provides a secure platform for communication between buyers and sellers, which helps to prevent misunderstandings and disputes. Thirdly, Castler has a dispute resolution process in place, which allows for impartial mediation in case of any disagreements.

Finally, Castler uses advanced encryption and security measures to protect user data and prevent hacking and other cyber threats. These measures help to ensure that transactions are conducted safely and securely, minimizing the risks associated with using an escrow system.