Voy Finance introduces decentralization and enhanced security by implementing Escrow accounts. Once the electronic Bill of Lading (eBL) is validated, the funds designated for lending are transferred to an Escrow account governed by a Smart contract. This Escrow account operates autonomously, without any human control, and the Smart contract only releases the funds when until the seller fulfils the obligations and the buyer confirms the accuracy of the goods. By leveraging an Escrow account, sellers gain assurance regarding the origin of funds, facilitating faster trade execution without the need for intermediaries. This system ensures trust, transparency, and efficient transactions within the Voy Finance platform.

Last updated