Electronic signature blog
Everything you need to know about BlockChain, IT and legal security, and corporate obligations ...
Blockchain and Electronic Signature
What?
Blockchain is a technology for storing and transmitting information. It is transparent, secure and operates without any central control body.
A blockchain is a database containing the history of all the exchanges carried out between its users since its creation. This database is secure and distributed: it is shared by its various users, without an intermediary, which allows everyone to check the validity of the string.
There are two types of blockchain: public blockchains, open to everyone, and private blockchains, whose access and use are limited to a certain number of users.
According to Jean-Paul Delahaye, you have to imagine "a very large notebook, which everyone can read freely and on which everyone can write, but which is impossible to erase and indestructible".
When?
The first blockchain dates from 2008 with the currency Bitcoin, developed by a certain Satoshi Nakamoto, an unknown person appearing under a pseudonym.
Indeed, blockchain and bitcoin were built together, but many structures are currently considering the use of blockchain technology in cases other than cryptocurrencies. For example, e-SignProof © uses the blockchain to secure the storage of documents once signed. This is because the document is encrypted, an encryption code is edited (called a Hash code) and it can only correspond to one document in the world, the one that was signed in this case. This is what makes the document tamper-proof and moreover the anteriority by certified dating (timestamp) is recognized worldwide (more than 177 countries).
How? 'Or' What ?
The blockchain used by e-SignProof © is the one used to secure BitCoin transactions. It is also used to issue a date, an hour and a minute irreversible and legally authentic.
Transactions between network users are grouped into blocks. Each block is validated by network nodes called "miners", according to techniques depending on the type of blockchain. In the Bitcoin blockchain, this technique is called "proof of work" and involves solving algorithmic problems.
Once the block is validated, it is time stamped and added to the blockchain. The transaction is then visible to the recipient as well as to the entire network.
Why ?
The decentralized nature of the blockchain, associated with its security and transparency, allows it to be used for applications much broader than the monetary domain. This is the case for the electronic signature.
We can classify the use of blockchain into three categories:
Applications for the transfer of assets (monetary use, also securities, votes, stocks, bonds ...).
Smart contracts: These are stand-alone programs that automatically execute the terms and conditions of a contract, without requiring human intervention once started.
Blockchain as a register: it ensures better traceability of products and assets. This is notably one of the uses from which we benefit at e-SignProof ©.
The areas of use are unlimited: banking, insurance, health and pharmaceutical industry, supply chain in many sectors, music industry, energy, real estate, voting, ...
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Email :contact@e-signproof.com
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