DocuSign To Integrate Ethereum Blockchain For Decentralized Evidence Recording

DocuSign, a company that specializes in electronic signature technology, recently announced that it has integrated the Ethereum blockchain into a new digital transaction and management service.

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DocuSign, a company that specializes in electronic signature technology, recently announced that it has integrated the Ethereum blockchain into a new digital transaction and management service.

Users will be able to verify evidence, such as signatures, via a one-way cryptographic hash against the original agreement, file or document.

Based in the U.S city of San Francisco, DocuSign has gained popularity as one of the top firms that facilitate the electronic exchange of signed documents and contracts.

The integration means that the company’s customers, currently numbering over 400,000 for their paid services, now have the option of allowing a ‘DocuSigned’ contract or agreement to be recorded and safeguarded on Ethereum’s blockchain.

The use of the blockchain provides an option to the company’s traditional signature verification system and could prove a big hit with Docusign’s customers.

The most likely group to reap immense benefits will be those that prefer to have irrefutable evidence of their contracts secured in the transparent or neutral environment of a blockchain network.

The company sees this as an essential aspect, one that would instill trust in the company’s services. The company says on its website.

“For customers who want evidence of agreements to exist in a neutral environment, not owned by any particular entity, this solution is ideal.”

The firm’s chief product officer Ron Hirson said that customers who opt-in will have the system automatically “compute a one-way cryptographic hash fingerprint for every completed transaction.”

According to Hirson, the verified signature is then written on the Ethereum blockchain, currently the most popular smart contracts platform.

He also explained that using the hash gives the system a chance to provide “tamper-proof evidence” for every transaction, enabling independent validation of any completed document. He said:

“…using the Ethereum blockchain, [means] that third-party evidence for a transaction [is] accessible to anyone.”

Having the evidence on the blockchain also means that anyone with a copy can verify its integrity against the original DocuSigned file.

However, to enhance privacy and security, the company does not write the original content on the blockchain nor exposes it to the public. The one-way cryptographic hash makes this possible by functioning much like you would expect a digital fingerprint of an original item.

Apart from electronic signatures, DocuSign’s other notable features include unrivaled authentication services, a unique user identity management system, and workflow automation.

Docusign isn’t new to the use of smart contracts to secure electronic data. In 2015, the company collaborated with Visa to create a proof-of-concept prototype leveraging smart contracts and online payments for Visa’s connected.

The company is also a member of the Enterprise Ethereum Alliance, hoping to form a collaborative initiative with industry leaders in delivering top blockchain-based solutions.

The firm has also sought to continue providing top products for its growing user base. A recent tweet introduced two new features that it hopes will make its services even more valuable.

The two features are the “Intelligent Insights” and “mobile document scanning,” with the later now available on both iOS and Android devices.

Intelligent Insights uses AI capabilities and helps in spotting anomalies, allowing the user to assess risks and opportunities. Mobile scanning enables a user to scan any given document and edit it before importing it into the DocuSign system for their signature.

For more information, visit DocuSign.

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