DocuSign recently announced the integration of Ethereum blockchain technology into its signature and transaction service. DocuSign is based in San Francisco and is a company that specially deals in electronic signature technology. With the help of the newly enabled technology, the clients will be able to verify signatures using cryptographic hashing protocol which will be implemented against the original signed agreement, document or even a contract.
This system from DocuSign encrypts documents and assigns them to a hash. A user can then compare the signature with the original to check whether it has tampered or not. DocuSign has been a big name in the e-signature space for years and the company is very much confident that its move will highly benefit the customers who want to place their agreements in a neutral environment outside of the control of anyone.
Apart from providing originality check, hashing a signed document on a blockchain platform also provides an additional layer of security because the hash serves as a fingerprint keeping the actual content within the document private. Also, it is not possible to undo the signing event because hashing comes with one-way attributes and recreation of it is not possible.
According to DocuSign, the move to integrate Ethereum blockchain technology in its service will bring the company closer to its main objective of having a majority of paper agreements converted into smart contracts, DocuSign official site reported.
Over the years, the company has grown through both extensive and expansive acquisition moves. Recently, the American company acquired a cloud document generation and management company based in Chicago, SpringCM. The company paid around $220 million for complete acquisition of the SpringCM. Even then the company faces stiff competition from Salesforce, Apttus, and Oracle- its close rivals.
By adding Ethereum blockchain technology to its platform, DocuSign has joined a list of companies who have already embraced this technology to make regular technological tasks simpler, CoinCentral reported. It should be noted that this blockchain-based technology is the most popular in the world as it offers all-around innovative use.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]