If a user does business with someone who is located in another state or country, the included OmniBazaar Escrow Module provides access to escrow agents — other OmniBazaar users — who can help both the buyer and the seller ensure that their purchases and payments are received as promised. In most cases, escrows are initiated and accomplished automatically, by the Escrow Modules of the buyer's, the seller's, and the escrow's OmniBazaar software. For the duration of the escrow, the buyer's funds are held in a separate cryptocurrency account generated by the Escrow Module of the OmniBazaar software. In most cases, the operator of the escrow node don't even know his computer and OmniBazaar software are acting as the escrow in any particular transaction.
- Written by Richard Crites