What is Digital Escrow?

The first question that arises is: "What is Escrow?"

Escrow comes from the Anglo-American and more or less means "trustee relationship".

Escrow was the first to be used and is best known in the financial markets.

Escrow means that a neutral third party keeps something that one, two or more parties give it for safekeeping. Usually, to protect the rights of all parties involved and to prevent one party from being taken advantage of.

Wir erklären in wenigen Worten den Sinn und die Bedeutung vvon Digital Escrow

We explain in a few words the meaning and importance of Digital Escrow

But our world is not only becoming more and more digital, it is more and more often purely digital!
Thus, today not only money is protected by means of escrow, but also "digital goods" must be protected by means of escrow.
Be it plans or drawings, source code of critical applications, music or literature, plain and simple, everything that is created digitally and on which there are rights, e.g. property rights, industrial property rights or copyrights that show the value of the digital good.
Anything that can be digitally copied and is of high value should also be digitally protected. Digital Escrow is a simple, fast and inexpensive solution to engage a trusted trustee, the Escrow Agent, and protect your rights and trade secrets. After all, these are intangible assets that can be even more valuable than money.

What Digital Escrow means

Digital escrow therefore means: All assets in the form of digital goods are kept safe and reliable with a trustworthy escrow agent. Authorized parties have access to the stored "deposit" at any time. The trustee reports every change, including storage. In this way, proof can be provided at any time that a third party is keeping your property and which versions have been submitted. This information can even be presented in court as evidence, which is particularly important and helpful in the case of non-proprietary trade secrets.

An escrow agent is something like a digital safe with a logging function and a guarantee.
Just like a physical safe, access is strictly restricted and only authorized trustee personnel have access to the deposits. There is no connection to the Internet or to any network other than that of the trustee.
Unlike a physical safe, however, all deposits are encrypted for the duration of the deposit and are stored in two locations in the European Union that are more than 400 km apart.

Digital Escrow by DENIC Services ensures maximum transparency. The entire escrow process can be controlled centrally, suppliers receive reminders for upcoming deliveries, beneficiaries receive information when something has been delivered or whether an expected delivery has not materialized. Suppliers can be automatically reminded of missed posting deadlines and the completeness of the deposit can be checked for each posting.

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