Blockchain & E-signing
Contracts between clients, partners, workers, governments, and administrative authorities are the basis of any business. They are an essential part of any business, be it sales contract, job offer letters, appointment letters, non-disclosure agreements, or purchase orders. Proper contracts have the potential for building a better relationship with stakeholders. Therefore, the process of creating and finalizing these contracts must be as smooth as possible. By embracing E-signing, you can prosper in today’s highly competitive market.
Recently, businesses all over the world are using E-signing to increase productivity, client experiences, and safety. With the help of E-signing, both companies and customers can sign the documents electronically using a computer from anywhere in the world. As a result, there is an enormous boost in cashless transactions, paperless offices, and end-to-end automation. These methods help in achieving efficient client relationship management and operational superiority.
Benefits of E-signing
E-signing provides the people the opportunity to sign any document electronically from any part of the world using a computer. You have to type your name, sign the paper, and verify its authenticity using cryptographic methods, that’s it.
Both parties can detect any changes made to the document after you digitally sign the document. These signed documents can be securely stored on local devices or using some software. All these measures make esigning reasonably manageable, secure, and efficiently verifiable.
There are few more benefits of e-signing such as
- Improvement in internal process
- Increased sales productivity
- Fast document turnaround time
- Reduced Costs
- Simple compliance
What is a Blockchain
A blockchain is a distributed ledger. The blocks store the transactions and distribute it all over the network, therefore making it transparent, meaning anyone on the network can access it. As a result, it prevents any fraudulent activity within the business, as all the records are public.
Why Blockchain for E-Signing
Although there are several benefits of using E-signing, the prime concern of people is the authenticity and security of these digitally signed documents. This is where blockchain comes in handy. Blockchain provides an extra level of protection for documents that can reassure users to sign documents with full confidence and trust.
Most leading businesses are using Ethereum, an open-source fully autonomous platform, to add the proof of agreement into the public record. People can access these records at any time to verify when the document was signed. It also checks if the document existed during that specific time.
In the coming times, blockchain technology will make Esigning, even more, smarter, and safer with smart contracts. For example, a home loan smart contract will trigger automatic funds disbursal on meeting specified criteria. The notion of smart contracts is still in the opening stages. With time, it will eradicate any manual intervention; therefore, resulting in more savings.
With the improvements in technology, it has become viable and more accessible to improve the authentication of the E-signing. Although many people still believe in the paper’s signature, it is indisputable that E-signing offers better security and odds to fight with scammers. Moreover, the arrival of blockchain in the e-signature market proved that the time of the digital signature has just started. The issue with the e-signing was its authenticity and security, which was effectively tackled by the blockchain system.
Use SAFEBOX
Using SAFEBOX, users can upload their documents and maintain a copy in the blockchain system. Once you have your record on the system, you can easily share it with the other users. Next is to verify the documents placed on the system. This, again, can be done quickly using the SAFEBOX. Safebox allows its users to confirm whether your document was changed in the given period or not.
Sign up now to enjoy the blockchain benefits.
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