We, as humans, are obsessed with choice. Ever since our days of hunter-gathering, we have been hardwired to pick only the best of what is available. Our survival instincts were probably at their strongest at the time, and we could not afford to die by a mere stale berry or a rotten piece of meat. Even today, when we go out shopping for clothes or groceries, we make sure we take our time to pick the best of what is available. We do this subconsciously. So why not learn today how to pick the best digital signature provider and look for subtle details while choosing them?

INTEGRITY

When it comes to digital signatures, integrity is ensuring that a user’s signature is tied to the version of the document they are looking at while the signing happens. Also, the documents must remain the same once they are done signing. If in case the documents are tampered with after signing, the digital signature provider must have the ability to provide strong tamper evidence for those documents.

AUDIT TRAILS

This is one of the most important features to look for while choosing a digital signature provider. An audit trail is simply a feature that keeps a log of every action that the signers perform on every document in each transaction. Audit trails give the user a detailed track of everything that happened in each transaction. It would help if you also enquired more about how this information is stored and how safe it is from tampering.

LONGTERM VALIDITY

Paper signatures are valid forever. Take the US Declaration of Independence as an example. The entire declaration was written on a piece of paper and signed by 56 signers 245 years ago. That document is still valid and honored today. This is what digital signatures must provide – a method based on standards that can help prove the document’s validity not just today but even in the years to come.

ASSOCIATION

Association is nothing but a method that proves that the signature must be linked to the data or record being signed. You must understand beforehand whether or not the digital signature provider provides a method that permanently embeds the signature in the document or simply attaches an image of the signature on the document. The absence of this method is one of the primary causes of forgery.

Also read: The ESIGN Act and the UETA under the Microscope

INTENT OF SIGNATURE

This is yet another essential feature to look out for. While going through the signing process, digital signature providers must make sure that the signers go through enough deliberate steps to complete their signing. This clearly indicates the intention to sign.

NOTICE OF CONSENT

Digital signature laws in some countries require the signers to understand that they are engaging in a digital signature process before they start the process. This allows them to either continue or opt-out. Signers should be able to opt-out if they wish to. This feature helps avoid unintended signatures, especially in the elderly population, which are unfamiliar with modern computerized technology.

IDENTITY AUTHENTICATION

Don’t overlook this feature while choosing a digital signature provider. Signers must prove their identity through a government-recognized 3rd party authenticator or by sharing personally identifiable information and proofs of that information within the digital signature application or website. This feature is important because it ties the signature with the person who signed it and is available for all to see even after the signing process is complete.

DrySign is a highly sophisticated digital signature provider that incorporates all the above-mentioned features right into the application. From robust audit trails to lifetime validity, DrySign has you covered from all vulnerabilities. Try it out for free.

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Have you ever wondered what would happen if you accidentally signed a contract under the influence of alcohol? Would the contract still be valid? The answer is a bit tricky. History is replete with hilarious instances of people doing unbelievable things while being under the influence of substances. Imagine yourself having a wild night out with your colleagues at an office party. There’s always one person in the group who has never had alcohol before but ultimately gives in to peer pressure and tries a drink. As the night progresses, one glass becomes two, and two becomes three. Before anyone realizes, things are spiraling out of control and nobody remembers what that person was up to while the rest were partying. What if a stranger approached him and wooed him into signing something that might have disastrous consequences? For all you know, he might have accidentally outsourced an entire department’s work to an unknown agency or agreed to sell out his shares to this stranger! A tragic mishap like this could destroy the company’s brand image and cost them a fortune to rectify the wrongs. As bizarre as these instances may sound, they do happen. Here’s an example:

The Lucy-Zehmer case

Back in 1954, the Supreme Court of Virginia witnessed a historic case (Lucy - plaintiff v. Zehmer – defendant, 196 Va. 493; 84 S.E.2d 516 (1954)) that found its way into law books – a classic example of how intoxication affects a contract. 

There was a land spanning over 471.6 acres called the Ferguson Farm, belonging to a couple, the Zehmers. A man named Mr. Lucy, an acquaintance of Mr. Zehmer, expressed his interest in purchasing the farm for $20,000. Mr. Zehmer backed out of the deal after thinking it through. Later, during one of his outings with Mr. Zehmer, Mr. Lucy approached him for the second time to purchase the property for $50,000. After few rounds of drinks, both the parties signed a contract making Mr. Lucy the farm owner. However, when it came to enforcing the contract, Mr. Zehmer claimed that he was joking when he agreed to sell the farm. It was then Mr. Lucy decided to sue the other party and enforce the contract. The verdict was in favor of the plaintiff, seeing how the court and the attorneys concluded that the defendant was not intoxicated enough to invalidate the contract.

In this case, it is observed that the mental assessment or the parties’ intentions beyond the contract have not been deemed relevant during the formation of the contract.

What does the law state in such cases?

In legal terms, every contract consists of an offer, the terms of the agreement, meeting of minds, and consideration so that the court can enforce them if either of the parties sues the other. In such cases, the point to be noted is that the intoxicated party might not fully understand the terms of the agreement and hence render the contract void. As a result, the party may defend by stating undue influence, coercion, or misrepresentation. This does not necessarily mean that any party can back out of the contract after signing it while claiming to be intoxicated.

Although after claiming to be impaired, it’s not like the other party is rendered defenseless. Likely, the other party might also have suffered a loss as a consequence of signing the contract. In such cases, the other party can exercise “quasi-contractual claims” stating that the contract was signed in good faith.

Also read: How to Deal with Signature Forgery?

Digital Signatures – the solution to this problem

The factors that affect the court’s decision are based on the circumstances under which the contract is signed. If such a situation arises, the first step would be to lawyer up. However, there’s another solution that is far more efficient in preventing such situations in the first place – digital signatures! 

Digital signature software makes it virtually impossible to log in and sign the document while being intoxicated. These ingenious applications come with secure logins that require serious motor skills, presence of mind, and precision – all of which are next to impossible to come by when one is intoxicated. To sum it up, signing contracts while being impaired can turn out to be a taxing procedure with dire consequences. The only way to avoid it is to eliminate paper-based workflow and implement a digital signature solution.

Sources:

https://www.hg.org/legal-articles/is-a-contract-valid-if-i-signed-while-drunk-36845

https://study.com/academy/lesson/incapacity-contracts-joint-obligation-contracts-with-intoxicated-persons.html

https://www.mondaq.com/uk/contracts-and-commercial-law/722770/are-drunken-contracts-binding

https://tuplerlaw.com/is-contract-signed-while-impaired-valid/

https://www.lawyers.com/ask-a-lawyer/entertainment-law/is-a-contract-still-valid-if-it-was-signed-under-the-influence-of-alcohol-1631465.html

https://www.casebriefs.com/blog/law/contracts/contracts-keyed-to-murphy/the-bargain-relationship/lucy-v-zehmer-2/

https://onlinelaw.wustl.edu/blog/case-study-lucy-v-zehmer/

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Picture yourself enjoying your day-off or a vacation, and suddenly you find out that your signature is being used to sign up for a policy, sign off a QA report for the pilot batch of a prototype drug, or even sign a set of forged release papers! The consequences in such cases could be dire beyond imagination. We are looking at the unauthorized release of wrong medication, corporate espionage scenarios, and even potential prison breaks. As bizarre and unlikely as it may sound, signature forgeries are more common than we think. However, there are ways you can reduce the damage to a certain extent and deal with the mess in the best possible manner.

Step #1 – Report the incident

In most cases, the ripple effect of your forged signatures can be felt within a short period. Either way, your first step should be to inform the signing parties and authorities. This gives the signing parties some room for damage control. Depending upon the nature of the contract with your forged signature, there is a specific time limit before which you must report the forgery. For example, a fraudulent bank transaction can be annulled within 60 days. Reporting the incident as soon as possible helps the authorities to quickly narrow down on the culprit while the trail is comparatively fresh.

Step #2 – Sign an affidavit

After reporting the incident, you may have to sign an affidavit confirming that your signature has been forged and stating your intent to annul the effects and implications of the contract. It will also help the recipient to investigate the matter from their side further. The affidavit will relinquish the signing parties of any responsibilities mentioned in the contract, thus saving their time and effort.

Step #3 – Keep your legal team in the loop

The other signing party may likely try to sue you when you cannot fulfill the conditions mentioned in the contract with your forged signature. In that case, your legal team should be ready and prepared with all the facts regarding the incident. Besides your legal team, you may also want to seek help from a handwriting expert who might be able to affirm that your signature is forged.

Also read: Signature Forgery: Enhancing Transparency and Security with Digital Signatures

What happens to the contract?

After reporting the incident of signature forgery, the contract is rendered void. The critical point to be noted in this scenario is that being “void” is different than being “voidable.” The key difference lies in enforceability. In this context, the party that has its signature forged is called the injured party. In case of a voidable contract, the injured party gets to decide whether to maintain the contract or rescind it, meaning that the enforceability rests in the injured party’s hands. But in the case of a void contract, it cannot be enforced by either of the two parties.

Digital Signatures – the smartest way to avoid signature forgeries

The only solution to this problem statement is to move your signing process online. Digital signature solutions are built like cyber fortresses. These applications keep unauthorized users at bay while keeping the distribution of sensitive documents and contracts in check with all the detailed logs. With digital signatures, users can benefit from a plethora of safety features such as:

• Passwords, verification codes, and Personal identification numbers (PINs) – These options work as full-proof measures to authenticate the identity and approval of the signer.


• Validation from Certifying Authorities (CA) – CA’s are trusted certifying authorities that authenticate and issue digital certificates and verify websites or organizations you communicate with online.


• Digital signature laws – Various countries have their own laws and regulations that make digital signatures enforceable and legally binding.


• Audit trails – Powerful audit trails help digital signatures enhance their traceability and internal record-keeping, leaving no scope for errors.

Sources:

https://www.hg.org/legal-articles/effect-of-forgery-on-a-contract-37071

https://www.upcounsel.com/false-signature-on-contract

https://www.sapling.com/10004817/somebody-signs-signature-you

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The world produces 300 million tons of paper annually, out of which 45% ultimately ends up in the trash! But the future need not be laden with massive heaps and landfills of paper waste. Instead, may we see one that is greener and smarter with minimal paper usage. If you’re wondering how we’re going to get there, the answer is simple – digitization. Countries world over have started giving up paper-based workflows & processes, while initiating the transition to efficient, digital counterparts.

How badly do we need digitization?

This might not feel like the eleventh hour, but in reality, we would be rapidly nearing it if we continue resorting to our current paper usage. In the U.S. alone, over 68 million trees are used to produce paper. An average person from the USA, Japan, and Europe uses 250-300 kilograms of paper every year. Speaking of paper wastage in offices, an average office employee uses around 10,000 sheets of paper every year. These are some stats we don’t want to carry forward into the future.

Also read: Guide to Going Paperless with DrySign

How does going paperless helpful?

Apart from saving costs associated with paper and stationery, going paperless also helps companies save on infrastructural costs. By moving your document storage online, you are practically getting rid of a roomful of cabinets and the efforts & time required to store, preserve, and search for documents manually. In doing so, we are looking at a potential saving of 1.4 trillion pounds of paper every year which roughly translates to 728,000 trees. Systems like digital signatures and cloud-based document management platforms play a significant role in helping companies go paperless. Opting for such smart solutions is definitely a step in the right direction.

How to go paperless?

The notion of printing documents to get them signed is on the verge of extinction. Looking at the exponential growth in digitization, signing and storing documents online is going to become the norm. With digital signatures, traditional processes like printing, scanning, and shipping documents will be drastically reduced, thereby helping companies go paperless. This is how e-signature solutions are paving the path for a greener, paperless, and smarter tomorrow.

Now that the foundation for the paperless mission is laid, it’s time to build on it. Let’s get started with DrySign, a digital signature platform that goes beyond ticking all the right boxes when it comes to legality, usability, and functionality. It’s simple to use and even simpler to register. For a greener and brighter tomorrow, now is the time to go paperless. Go digital with DrySign.

Sources:

https://www.igyaan.in/8972/how-many-gb-does-your-average-filing-cabinet-hold/

https://www.recordnations.com/2016/02/how-much-paper-is-used-in-one-day/

https://mydatascope.com/blog/en/how-much-paper-waste-is-costing-your-business/

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Digital transformation is an inevitable, unstoppable phenomenon. The path to a smarter, greener, and efficient tomorrow is paved using technology. As a result, the entire world has begun adopting digital transformation solutions. Riding the tides of this transformation are digital signatures that have established their roots globally, across virtually every industry vertical. With the growing demand for digital signatures, various laws and regulations emerged across countries, granting legality to e-signature platforms. There are three types of laws:

Minimalist E-Signature Laws

Minimalist or permissive e-signature laws allow minimal restrictions on the usage of digital signatures. The idea behind minimalist e-signature laws is that no electronic signatures may be denied legality just because they are in electronic form. Due to this unrestricted nature, some may argue that this might lead to legal uncertainties owing to vagueness. However, this approach focuses more on market penetration and maximizing the usage of electronic signatures.

Some countries that have adopted permissive electronic signatures are the United States of America, Canada, and New Zealand.

Prescriptive E-Signature Laws

Prescriptive laws mandate PKI (Public Key Infrastructure) technology usage in digital signatures to sign documents online. PKI is a framework of cybersecurity that uses two encryption keys – private key and public key to maintain secure communication between a server and its clients. In cases where the negligent loss of private key results in direct or indirect loss, unlimited liability may be imposed. These laws add an extra layer of security, making it easier to associate signing parties to the documents.

Countries like Germany, Italy, and Russia have adopted prescriptive laws.

Also read: Guide to Going Paperless with DrySign

Hybrid Laws

Hybrid laws are a combination of prescriptive and minimalist laws. If technologies other than PKI meet the requirements, they are granted presumptions of authenticity. Hybrid laws mandate that certification service providers place limitations on their qualification certificates. The hybrid model is implemented in countries like Singapore and Bermuda.

Laws adopted across various countries

Every country has its own set of rules and regulations to implement digital transformation. Here’s a list of countries and the laws that they enforce to legalize digital signatures.

Sources:

https://scholarship.richmond.edu/cgi/viewcontent.cgi?referer=&httpsredir=1&article=1238&context=jolt

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Digital signatures are steadily replacing the conventional methods of signing documents. Over the past few years, E-signatures have become more secure with the adoption of different types of cryptography, i.e., binding a person to digital data and providing verification of the same. Digital signatures provide integrity, non-repudiation, and authentication to access the contents of a data set codes digitally across networks. These signatures are created using an algorithm that produces a 'hash' using information from the contents of the message and is stored in the key.

Blockchain uses the idea of codes or hash for signatures, which is exactly like a fingerprint for every block.

Digital signatures offer an additional layer of security to users and in turn, businesses. They provide authenticity of the data and complete protection against forgery for safer use of online certificates with the help of complex mathematical algorithms or codes.

Blockchain technology enters this cyber ecosystem by adding on the business ledger aspect, allowing businesses or users to create multiple signatures, encrypted fingerprints, and share coding information across various systems in a network of a centralized server.

Evolution of Digital signatures

A lot of people wrongly believe that electronic signature technology has recently arrived in the cybersphere. However, the truth is that digital signatures have been present for decades in our cyber ecosystem. Do you know where the idea of digital signatures came from and how its journey evolved? It all started back in 1976 when Whitfield Diffie and Martin Hellman, two cryptography pioneers, first described the notion of a digital signature scheme.

1977: RSA algorithm was invented by Ronald Rivest, Adi Shamir, and Len Adleman. Also, Italy and Germany were amongst the first countries to issue a digital signature law.

1999: Digital signatures were embedded into documents in PDF format, came with encryption and were registered with ETSI.

2000: The ESIGN Act made digital signatures legally binding in the United States.

2008: The International Organization for Standardization (ISO) adopted PDF file format as an open standard in its ISO 32000 specifications, which included digital signatures as an integral part.

Over the years, digital signatures have become increasingly secure by adding various types of information codes to the key. These additions have been crucial, being an extra security layer in compliance with eIDAS requirements.
Digital Signatures are not limited to specific documents and files. They are more practical if they are visualized and validated thoroughly. We have many signature solutions in the present era that isolate the signature or embed the digital signature into the documents.

Also Read : What You Should Be Looking for in a Digital Signature Provider

What is the role of Blockchain in e-Signature?

In the digital world, the word ‘Blockchain’ keeps popping up as an essential feature in digital signatures. Blockchain is a specific type of database that makes the history of any digital asset unalterable and transparent through decentralization and cryptographic hashing. It works on the concept of ‘proof-of-work’, best known for securing financial transactions and powering new cryptocurrencies such as Bitcoin.

They provide the three following features:

• Authentication: Electronic signatures adhere to a specific user via a private key. In this, they identify the owner of the private key used to sign the source data in an email or a document.
• Integrity: Digital signatures use an innovative hashing algorithm every time, to ensure that the message received is not forged.
• Non-Repudiation: This feature is unique and ensures that a sender who has signed the source information cannot deny it later after having signed it.

Here, the transactions made once cannot be edited or deleted, enabling fully secure online dealing. Blockchain is a novel technology that reduces risk, stamps out fraud, and brings clarity to your processes in a scalable way.

How do electronic signatures in blockchain work?

Blockchain is known to make the e-signing process very secure and stable. Let us see how:

Blockchain creates ‘hashes’ that are numerical codes used to identify pieces of information. These hash codes can be cross-checked and verified with the hash numbers present in another document. If the hash codes match, it indicates that the document is identical, and one can proceed with the transaction securely. The hash code is uniquely specified for every piece of information.

As soon as the hash code is generated, it sends the data and the digital signature to the assigned person. When the receiver receives the information, he enters the sender’s public key and e-signature, which is then forwarded into the algorithm. This process creates a hash number with a specific code. Then, to verify the documents, the receiver checks the hash code of the original document again and matches it with the numeric code received. If the hash number codes are the same, the digital signature is considered valid; otherwise, it is recognized as fake or fraudulent.

Electronic signatures offer key advantages of storing and transferring data in the blockchain. A hacker can alter information without the owner of the document even realizing that the document has been tampered with. However, if this does happen, the signature would become invalid by default. Hence, digitally signed data is encrypted and has a digital trail that can never be tampered with, thus cementing its incorruptibility.

Why is blockchain technology incorporated into Digital Signatures?

Blockchain technology includes cryptography, allowing users to e-sign online with the highest data security. Here's why we consider Blockchain as the best choice for e-signatures:

• Blockchain technology allows your signature to represent you as a digital identity.
• Signers can use their private key (encryption) to sign online legal contracts. Thus the parties involved can present digital signatures as evidence.
• Business users can perform multiple actions in a sequence on a blockchain.
• Blockchain technology adds another layer of security and blocks tampering and alteration of information.
• It is easy to trace and track the documents sent for signatures – keep track of who has signed and whose signature is pending to complete the documentation process.
• Online signatures can also be applied in offline mode.
• This evolving technology assists in the verification of alter-proof documents.
• Signature and verification are separate processes that do not rely on a central authority.
• Every user has proof that specific information existed at a particular point in time, as every entry in the blockchain is immutable.

Conclusion

Blockchain technology represents the future of digital signatures and is widely adopted and incorporated into the digital world. Using this technology for e-signing sensitive data under an additional level of cryptographic ‘hash’ can provide businesses with peace of mind.

If your business wants to digitally seal documents using blockchain technology especially in this COVID-19 scenario, it’s time to opt for DrySign- a user-friendly platform, for more transparency and authenticity.

DrySign not only enables you to scale up your operational efficiency but also helps you create smooth, hassle-free experiences for your clients and employees. Step into a smart, secure, paperless future with digital signatures. Want to know more? 

Sources: cygnature.io | cmswire.com | cryptomathic.com

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Since the legalization of digital signatures, we have seen a significant reduction of paperwork and enhanced streamlining of document signing processes worldwide. Organizations, governments, schools, individuals, and various other domains have started appreciating and implementing digital signatures to restructure their operations. One such domain that has begun reaping the benefits of digital signatures is Foreign Trade.

When we look at the import and export of the USA, the numbers are staggering. In 2019, the net worth of trade between the U.S and other countries was $5.6 trillion - $3.1 trillion in imports and $2.5 trillion in exports of goods and services. Looking at the sheer volume of commodities being traded, there is still plenty of room for the digitization and modernization of the existing process.

The problem statement

The import-export ecosystem involves tons of paperwork. If this paperwork is forged, damaged, or tampered with, it can lead to severe repercussions. If forged correctly, chances are people or companies can intentionally conceal, destroy, or manipulate invoices to import goods illegally. Forging import-export paperwork can result in companies or individuals claiming allowances from customs and getting unlawfully paid. This is a direct hit to the economy. With paper-based processes in use, we are also looking at high chances of someone forging seals used by the customs department to bring in illegal wildlife, gold, or even arms & ammunition. Authenticating documents like foreign transactions and transport manifest online add a much-needed layer of security and transparency, with so many sensitive matters at stake.

Digital signatures becoming the new norm

Digital signatures prove to be a full-proof way to ensure the authenticity of the signing parties, documents, and transactions on the internet. Not only are we looking at convenience as the prime factor, but also the legality and security that come with E-signature platforms. Digital signatures also maintain a detailed log of document modification, making it virtually impossible to tamper without being identified, further adding accountability to domains like import-export. In this day and age, we also see E-signatures becoming the norm in financial, legal, medical, and educational sectors, as well as in some government offices. By expanding the usage of digital signatures to cover more paper-controlled processes, government bodies and the taxpayers stand to reap lasting benefits in the longer run. The future of every administrative body is digital, and with digital signatures making their way to the import-export office, we are getting one step closer.

Also read: What You Should Be Looking for in a Digital Signature Provider

Scenarios that can be avoided using digital signatures

Like any other country, the USA is home to countless auto enthusiasts. However, there is a long list of imported vehicles deemed illegal in the country, and illicit importing of such vehicles can result in severe penalties. Some of the most sought-after cars, called Japanese Domestic Market vehicles or JDM cars, are also deemed illegal. The main reason why these cars are not allowed on American streets is because they are right-hand drive cars. The penalty of owning a JDM car in America is more than that of possessing drugs or even an automatic rifle! Digital signatures can prove to be pivotal in restricting such imports.

Cases of illegal import of commodities in America range from weird to bizarre. For example, back in 2012, Homeland Security and U.S. Immigration and Custom Enforcement agents arrested a resident of Florida named Eric Prokopi for illegally importing skeleton fossils of dinosaurs from different countries of the world. Most of these cases happen due to vulnerabilities involved with paper-based processes.

Conclusion:

Illicit import & export activities involving gold, silver, or any other commodities can not only leave a severe dent in the economy but can also act as a front for far more nefarious money laundering schemes. While digital measures like E-signatures cannot directly eradicate such activities, given the right digital ecosystem, they can play a significant role in reducing these scenarios by making import & export more transparent and accountable.

Sources:

https://www.criminallawyergroup.com/practice-areas/import-and-export-crimes/

https://www.ice.gov/news/releases/ice-arrests-florida-man-illegally-importing-dinosaur-fossils

https://www.thebalance.com/u-s-imports-and-exports-components-and-statistics-3306270

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On June 30th, 2000, President Bill Clinton signed the ESIGN Act, legalizing digital signatures in the USA. This was the spark that initiated the wave of digitization, which is still causing ripples in virtually every industry vertical. In 2010, the US House and the Senate decided to observe June 30th as the National ESIGN Day to raise awareness about digital signatures and promote its advantages in e-commerce. With the legalization of electronic signatures, medical professionals have seen improvement in their patient experiences, educational institutions have succeeded in adding value to their offerings, and governance has become more transparent & accountable. In addition, businesses and organizations have scaled up productivity while addressing traditional paper-based workflows pestering administrative teams.

This ESIGN Day, let’s look at the contributions of digital signatures in equipping businesses and professionals with a holistic solution that is efficient, innovative, convenient, and sustainable.

Moving towards a greener tomorrow with DrySign

On average, Americans use 85,000,000 tons of paper annually. That’s a stat that needs immediate attention. That is where digital signatures come into the picture. Did you know that 41% of companies print half of their total paper usage only to get them signed? Considering the fact that 40% of the wood goes into making paper and paper products, we are looking at tremendous savings by simply switching to digital signatures. In addition, manufacturing one sheet of A4-sized paper requires 10 liters of water. So by avoiding printing documents only to get them signed, we are saving trees and enough water to avert a water crisis. In the long run, if we continue resorting to paper-based workflows, the impact on the environment could be devastating. So on this ESIGN Day, let’s resolve to go greener with digital signatures.

Also read: The ESIGN Act and the UETA under the Microscope

Helping businesses and government bodies do what they do best

If yours is a financial institution or a legal firm, you must be familiar with the typical nuances of paper-based, manual workflows. Handling, storing, preserving, and retrieving paperwork requires dedicated infrastructure and workforce in many cases. Eventually, it’s these hidden costs that sum up to become a small fortune. By adopting digital signatures, all the savings that your business reaps can be directed towards strengthening your core offerings and providing a better customer experience.

E-governance is the future we are looking at. This means that during the weekend, you might not need to spend hours in a queue in front of a disgruntled government employee just to sign some paperwork. Instead, you would be able to fill forms, attach documents, and sign them online. We can expect unmatched convenience and security from digital signature solutions in this promising picture of digital governance. Moreover, detailed logs of usage history can drastically reduce the chances of shady agreements and contracts signed by high-ranking government officials. On this ESIGN Day, let’s pledge to go digital with e-signatures and bid farewell to heaps of paperwork.

Where is this digital revolution leading us?

What started as clay seals, inscriptions on stone tablets, quills, and pens have now evolved into a stylus. With digital signatures eventually becoming the new normal, we can expect authenticating foreign trade, notarization, and other forms of validations to go online. Overall, we can expect innovative transformations in every conceivable sector, which means fewer errors, simple and efficient operations, enhanced decision making, savings in cost and time, ramped up productivity, improved collaboration and communication, and lots more!

For now, on this ESIGN Day, let’s be thankful for the legalization of digital signatures with regulations like the ESIGN act and the UETA, paving the way towards revolutionary developments and transformations across an array of industry verticals. 

Sources:

https://www.msbdocs.com/10-surprising-stats-about-esignatures

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Regulations like the ESIGN act (The Electronic Signatures in Global and National Commerce Act) and the UETA (The Uniform Electronic Transactions Act) in the USA have helped other countries move in the right direction. With all the legal backing, digital signatures can do what they do best – help businesses go paperless, save time, money, and a lot of infrastructural costs. Let’s take a closer look at these regulations and dive deep into details.

The ESIGN Act

The ESIGN Act was passed on 30th June 2000, by the Clinton government. This law granted validity to electronic records and signatures in online transactions, be it interstate or foreign trade. To enforce the law uniformly, some basic hardware and software requirements have been set forth. Apart from those, there are some major checkboxes that electronic signature applications need to tick to obtain legal validity.

• The electronic signature is legally valid if the intent to sign from all the signing parties is clear.
• The electronic signatures should associate the signatures to the electronic record in a secure manner.
• The electronic signature application should preserve the identity of the signing parties.
• The electronic signature software should maintain a log of all the transactions, which should be available for the signing parties at all times. 

Once these conditions are met, the electronic signature application can be deemed legit. These rules cover most of the scenarios that in turn, have helped save tons of paper. In the USA alone, the annual amount of paper consumption is enough to build a 10 feet-tall wall spanning from New York to Tokyo! Digital Signatures can help save around 837 tons of paper and more than 14,000 trees by offering features like online document archival. Besides having their uses, there are some exceptions to the ESIGN Act.

The Exceptions:

• Paperwork associated with transportation of potentially dangerous material.
• Divorce, wills, adoptions as per the family law.
• Rental notice.
• Testamentary trusts.
• Court notices and official court documents. 

Also read: Digital signature laws around the world

The UETA

The Uniform Electronic Transactions Act (UETA) was enacted in 1999 to grant legality to electronic signatures in online transactions. This might lead to a common misconception that it is identical to the ESIGN Act. But it’s not! So what is the big difference?

The distinction between the UETA and the ESIGN Act

The ESIGN Act is a federal law consistently enacted across all the states, while the UETA is passed on a state-by-state basis. It is adopted by 47 states across the US. The three states that haven’t adopted UETA and have their laws and regulations are Illinois, New York, and Washington. Illinois has the Electronic Commerce Security Act, New York has the Electronic Signatures and Records Act, while Washington has adopted a similar law called the Electronic Authentication Act.

Laws like the ESIGN Act and the UETA are massive strides in the right direction. Such regulations pave the path to a brighter, smarter, and digital tomorrow, and help companies go paperless. Seeing such laws being passed worldwide paints an optimistic picture of a sustainable and efficient future for administrative bodies and organizations.

Sources:

https://www.ntia.doc.gov/files/ntia/publications/esignfinal.pdf

https://www.fdic.gov/resources/supervision-and-examinations/consumer-compliance-examination-manual/documents/10/x-3-1.pdf

https://www.faxcompare.com/blog/much-paper-can-digital-services-save

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Digital signatures have been around for a while and continue to evolve. Looking at the growing usage of e-signatures, just in 2020, the global digital signature market size touched $2.8 billion! If you have been considering investing in digital signature software, you may have some questions in mind, and understandably so. Investing in new tech can be a daunting proposition, and that is why it’s always a good idea to test the waters before jumping right in! Besides, some additional research always pays off. So before you start your homework, here are six questions you might miss out on asking.

Are digital signatures and electronic signatures the same?

The two do sound similar, which may even lead you to believe that they are the same. Yes, both of these are electronic mediums to sign documents. However, the difference is vast when it comes to legality and enforceability. To know more, check out the differences between digital signatures and electronic signatures.

Also read: Electronic Signatures vs. Digital Signatures. Which One Should You Choose?

Is it secure?

Digital signature solutions are practically built like a digital fortress loaded with state-of-the-art security features like 256-bit encryption, multifactor authentication, and password protection for your documents. These features keep cyber eavesdroppers and unauthorized users at bay.

What happens to my documents after I sign them?

This is the best part of using digital signature solutions. Applications like DrySign offer online document storage, eliminating the fuss of storing and preserving critical signed documents and all the costs associated with it. With DrySign, you also get detailed reports giving you information like which documents got rejected, which ones are stored as drafts, and which ones are signed.

Is it legal?

Digital signature solutions like DrySign are compliant with various regulations like the Electronic Signatures in Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA) that grant digital signatures the legality required to sign documents online. The software’s ability to associate the signing parties to the document and maintain the document’s integrity are some of the factors that grant it legitimacy.

Also read: Guide to Going Paperless with DrySign

What kind of documents can I sign?

DrySign as a holistic digital signature solution understands that documents can come in various formats. These file formats include Microsoft Word (.doc and .docx), Microsoft Excel (.xls and .xlsx), Microsoft PowerPoint (.ppt and .pptx), Text (.txt), rich text files(.rtf), images (.tif, .jpg, .jpeg, .gif, .bmp, and .png), and Web-based documents (.htm or .html). DrySign makes the uploading process more convenient by offering an option to upload from DropBox, OneDrive, and Google Drive.

What kind of savings can I expect out of digital signature solutions?

In the longer run, you can save up to $20 per document using digital signatures. When you digitize your entire document signing workflow, you can expect huge savings in time, infrastructure, and a barrage of hidden costs that add up to a significant amount over time. Among business users who have been using digital signatures, 81% have experienced ROI in a 12-month budget cycle, while 25% have experienced it within three months.
Now that you have the basics cleared, you can now lay the foundations for a smarter, faster, greener, and efficient tomorrow using digital signatures.

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