05 Aug 2014 / Venture Beat – Block chain technology, the public ledger of Bitcoin, is an amazing record keeper, tracking all transactions in its string of code.
What better way to create an electronic signature than with this self-tracking technology? Well, that’s what BlockSign founder Nicholas Thorne thought.
The company is launching its electronic signature platform today. Called BlockSign, the software lets users upload a document and put a legally binding signature stamp on it with the time and date. “You’ll get an email 25 minutes later with your document. A record has also been kept in the block chain. You can access that record anytime going forward,” Thorne told VentureBeat.
The software turns your signed document into a cryptographic hash, or a chain of 32 graphics.That’s your private record of signing the document you uploaded, which also stays stored in the block chain — a public ledger of transactions. The only person who can unlock your document, which is tied to your location, is you.
Plenty of services already exist to help you sign your many legal documents, like Adobe’s EchoSign and Docusign — two industry standards. Those services allow you to sign your documents securely and also offer cloud storage for signed documents. These kinds of services appeal a bit more to enterprises than to the average user, with rates of $10 a month to send five documents for signing.
There’s also HelloSign, a very sleek electronic signature platform that boasts an open API, compatibility with Google and DropBox, SSL security and two factor authentication, and general user-friendliness. And for the casual user, someone who signs three or less documents a month, it’s free.
All three services make money on their higher tiered products, like document storage and security, which range in price between $15 and $40 a month. Comparatively, BlockSign will give you your first five signatures free and then charge you $5 for 50 signatures to be used at any time.
What BlockSign argues is that the best way to keep documents secure is to keep them yourself — without a service. Also, the company questions the security of a handwritten or finger-tip drawn signature, which can be copied and tacked onto a document you never intended to sign….. Read more
http://venturebeat.com/2014/08/05/blocksigns-new-electronic-signatures-are-built-on-bitcoin/
