Electronic signatures have become widely adopted as an alternative to physical ones. As technology advances and allows legal work to become more digital, e-signatures have become a go-to solution for a wide array of services. While electronic signatures vary based on jurisdiction and country, there are several requirements in common, adopted across the board. E-signatures need to effectively identify the signatory without a doubt, and the person signing has to be the sole owner of the private key for the signature.
With technological advancements, new forms of e-signatures are being created. One of the most popular alternatives to an e-signature is a digital signature. Digital signatures are not the same as electronic signatures, although the former term is often used to describe the latter technology. While e-signatures are simply digital marks representing a physical signature, digital signatures employ the powers of cryptography to ensure validity. Digital signatures are also extremely important in the cryptocurrency world. They allow you to verify that you are the private key owner without actually revealing any information about the key itself.
Some e-signature services have started introducing cryptographic processes in order to boost their security. Some of the most common electronic signature providers include Adobe Sign and Hello Sign; however, with a growing demand for this technology over the past decade, more providers are entering the market.
Electronic signatures have been recognized as a legally accepted replacement for a physical signature for a long time. In 1996, the United Nations published the UNCITRAL Model Law on Electronic Commerce, which contained several sections detailing the use of electronic signatures. This was a highly influential document, which sped up the global adoption and legalization of e-signatures. Today, new forms of electronic signatures are being introduced as technology advances and more applications become available.
Biometric signatures are a popular type of e-signature. This type of signature relies on uniquely identifying physical qualities. For example, every time you unlock your phone with your fingerprint, you effectively use a biometric e-signature to verify that you have the right to use this phone. Face-identifying software also relies on biometric information to verify your identity, which means that your face can also serve as an electronic signature given the right software.
With the rise of cryptographic and blockchain technology, electronic signatures are becoming more advanced and start taking on characteristics of digital signatures. While several years ago it might have been hard to implement cryptographic features for simply signing a document, today, digital signatures are becoming more widely used.
Related Articles
Crypto Invoicing
Crypto invoicing allows you to create different itemized bills and invoices for the products or services you offer. It enables you to bill clients in crypto via email, without the hassle of switching between wallets and apps. As cryptocurrencies ...
Digital Signature
Digital signatures employ cryptography to provide a way of determining whether a digital message or document is real. If a signature is deemed valid, it can be assumed that the communication is from the person it says it's from (known as ...
Crypto Debit Card
A crypto debit card is a type of debit card that allows its holder to pay for goods and services using cryptocurrencies like Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH). Most crypto debit cards in use today are powered by Visa and MasterCard, ...
Cryptoasset
Cryptoassets leverage cryptography, consensus algorithms, distributed ledgers, peer-to-peer technology and/or smart contracts to function as a store of value, medium of exchange, unit of account, or decentralized application (DApp). There are four ...
Circle
Circle is a fintech firm providing peer-to-peer payment technology. Through its platform, Circle enables consumers and businesses to make payments to one another using their mobile devices. It has been established with the belief that there is a ...