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ShoCard, the blockchain-based identity authentication platform has announced the launch of their digital document signing service that links an individual’s blockchain-certified ID to a signed document.
Currently attaching a signature to a real individual remains a challenge, but ShoCard has developed a method to overcome this by providing the identity proof and signature attachment to a document, delivering a more reliable, notary-equivalent process for the digital age.
As the internet has taken a more ubiquitous role in our lives, more digital documents are being electronically signed. Currently, there are over 75 countries globally that recognize the legal validity of e-signatures, yet it is still difficult to legally prove that someone has signed a document.
By having a blockchain-certified digital ID, an individual can attach their identity to a document, digitally sign it with cryptographic proof, and automatically provide an audit trail of proof.
While other digital document signing systems utilize the blockchain, by hashing a digital document and using a private-key to sign the document as an attestation to their signature, without a reliable means of tying that private-key, uniquely to an identified individual, the only proof that can be provided is that a document existed in a particular form (perhaps with a signature on one of the pages) at a given time. A true link between the individual and the blockchain signature cannot be necessarily created.
ShoCard was designed as an identity platform that can uniquely identify a real individual. An individual’s identity can be determined through a KYC (Know Your Customer) process, matching their government identification and their biometrics together and then tying that information to their private-key on their personal device and a digital-ID on the blockchain.
The KYC results can be certified by a certifying authority and also maintained on the blockchain as proof of the person’s identity. With this information, it is then possible to create a true digital signature of the hash of a document that can be easily proven regardless of time lapsed and without having to rely on intermediaries as proof of recordation. This process helps tie the ease of digital document signing and a more reliable notary-equivalent process.
The Document-Signing service is currently available via an Android app. An iOS version will be available soon.
“Trustless mechanisms like ShoCard’s digital document signing service are increasingly becoming the norm, as more services begin to realize that blockchains are the best option for storing, securing and transferring proof of data,” said Armin Ebrahimi founder and CEO of ShoCard.
from Help Net Security http://bit.ly/2L5Gkvo
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