An electronic signature is way different from signing traditionally with a wet ink personally but provides more credibility to know that you are whom you say you are. While electronic signature offers the same flexibility for the signer to read, understand and then sign the document like how manually a singer would do, it records underlying identities with internet location and time stamp to provide more serene audit trails. Due to unique login credentials and the ability to sign from their PDA devices, the electronic signature traceability is relatively strong compared to a manual signature. Like how online banking became a safe acceptance in everyone’s mind avoiding the hassles of having to sign cheques manually, electronic signature similarly helps you sign documents safely with more secured identity identification. An electronic signature simply is a software application that generates an electronic signature based on user input, like password and PIN under their control
Is Electronic Signature more credible?
Business professionals know that with a large volume of deals being transacted in their day-to-day business environment and each deal involving one or more stakeholders in an unknown ecosystem, it is difficult for business professionals to prove the identities of their involved stakeholders consistently. With an electronic signature, every business transaction is digitally connected, and we can track all the formalities and approvals from different stakeholders with good digital traceability and acquire good accountability. Simple Proof-of-Signature Electronic Signature is fast and straightforward, and the electronic signature serves as virtual proof of transaction. It has complete control over the process with all the risks being taken care of by the user.
Conclusion
In the era of rapid digital transformation, electronic signature has become inevitable due to digital supply chain models. While the handwritten personal signature is reliable, it has no traceability system to trace back the signer. Furthermore, there is no historical archive that holds back the records of people whose signatures had been used in the past, making it challenging to trace history. Since the digital age now governs our lives, signing digitally for document signing or personal signature is relatively more straightforward and requires lesser effort, but is also more authentic with high traceability in the future ever. CryptoESIGN is built with processes that can identify the signer and creator with digital traceability and provide good accountability statistics including date and time stamps.
Written by (Ragu)nathan Kannan
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