SSan Francisco based DocuSign has announced the integration of the Ethereum blockchain into its electronic signature and transaction management service.
This will allow evidence of a DocuSigned agreement to be automatically written to Ethereum. This option will be an alternative for verifying signatures and an ideal fit for customers who want to have evidence of their agreements in a neutral environment.
Anyone can check the agreement against the blockchain-stored evidence to verify the copy’s integrity against the original DocuSigned file. For privacy and security, this evidence will be a one-way cryptographic hash of the original. The original content is not written to the blockchain or exposed publicly, and the one-way cryptographic hash does not go backward to recreate the original.
Ron Hirson, chief product officer at DocuSign, stated in the release:
“For customers that opt-in, DocuSign will compute a one-way cryptographic hash fingerprint for every completed transaction, and write the value to the Ethereum blockchain - the most popular blockchain for smart contracts in our view.”
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He explained that the hash will act as “tamper-proof evidence for the transaction” that “enables any completed document to be validated independently." Furthermore, the use of the Ethereum blockchain allows the evidence for a transaction to be accessible to anyone.
DocuSign reportedly has 400,000 paying customers. This integration of the Ethereum blockchain on its services will provide an evidence of blockchain technology’s usefulness and innovativeness.
To read about Fall 2018 release for DocuSign, visit here.
