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Technology

Smart Contract Escrow and Dispute Resolution

Quick fact

Smart contracts can automatically escrow funds and release them only when cryptographic conditions are met, eliminating the need for a trusted middleman. If a dispute arises, the contract can freeze or split the funds based on rules set in advance, and even incorporate a human arbitration layer.

Why this is interesting

You pay for an item online, but the seller claims it's delivered and you claim it's not. Who decides who gets the money? Traditionally, a third party intervenes—but what if that third party is just code?