By DocuSign, the San Francisco–based company, is planning to integrate Ethereum Blockchain technology into their electronic signature and transaction management services. DocuSign, whose features include authentication services, user identity management and workflow automation, facilitates electronic exchanges of contracts and signed documents.
Completion, Storage, Access and Evidence
DocuSign allows documents to be completed electronically from any device anywhere. This technology enables signatories to electronically complete their end of a document, including appending signatures thereto, and once completed the document is then stored electronically, and can be accessed at any time.
With the link-up to Ethereum’s blockchain technology, the company will now be able to offer the added benefit that customers will be able to have evidence of a DocuSign agreement automatically recorded on the Ethereum blockchain. This is an alternative to the company’s native system for verifying signatures, which is a neat fit for customers who may require third-party evidence of their agreements in a neutral environment.
One-Way Cryptographic Hash Fingerprint for Every Transaction
Ron Hirson, chief product officer at DocuSign, stated that in his opinion the Ethereum Blockchain is “the most popular blockchain for smart contracts”. He pointed out that with this latest enhancement, customers can elect to choose to make their contract part of the Ethereum Blockchain process. This process will calculate a cryptographic hash fingerprint for the transaction and will write the value into the Ethereum blockchain, making each contract uniquely secure using Ethereum blockchain technology.
Once part of the blockchain, the contract will become part of the blockchain’s embedded information “block”. This will demonstrate the contract’s secured status and will also enable any completed document to be validated independently by a third party wishing to avail himself of the details of the transaction.
DocuSign has been working on smart contracts which incorporate online payments since 2015, partnering with companies such as Visa, for vehicle-based commerce. At the time, Hirson’s objective was to make it easier and quicker for customers to acquire their vehicles by completing their contracts and making their payments in one electronic and seamless experience.
Docusign Joins Ethereum’s Enterprise Alliance
Docusign has joined the Enterprise Ethereum Alliance, an alliance connecting enterprises, startups, academics, and technology vendors with Ethereum subject matter in order to foster the development of further innovations using mutual technologies.
DocuSign has also recently relaunched their new developer centre in order to support its strategic commitment to DocuSign partners. According to Marie Huwe, vice president of Developer Programs and Evangelism at DocuSign, the centre was developed to give users a “significantly improved user experience”. Huwe stated that “developers want easy, low-friction technology that will enable them to get up and running quickly—and they were looking for a better information architecture, greater discoverability and more how-to content and documentation from us”.
Mobile Scanning
DocuSign has also unveiled other new product features, one of which is enabling customers to do mobile document scanning. This will allow customers to scan a document and then edit crop and resize it before importing it into DocuSign for customers signature. This product was released to iOS devices last year and is now compatible with Android devices.
Have you used DocuSign’s technology? Do you agree with DocuSign adding Ethereum’s Blockchain technology to their services for extra security? Give us your thoughts in the comments below.
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