U.S.-based DocuSign announced it will integrate the Ethereum blockchain and legal AI company Seal Software in its electronic signing business, starting immediately.
The announcements are part of DocuSign's Fall '18 Release, which sees the company offering clients an "Intelligent Insights" solution to help clients in understanding legal clauses of important agreements.
The update is powered by Seal Software's contract extraction and discovery platform which helps companies reduce expenses related to contractual documents.
Seal will also add its updated GDPR Compliance Pack to DocuSign clients - a protocol designed specifically to help companies comply with the European Union's GDPR regulations by analyzing all legal agreements for risks involved.
DocuSign has over 400,000 clients - and "Millions of individual users" - using its services and is a massively popular platform amongst legal, technological, and financial companies.
With the integration of Ethereum, enterprises can remotely verify signatures and the "Integrity" of any DocuSign but matching it against similar records on the Ethereum blockchain.
Ron Hirson, chief product officer at DocuSign, stated customers opting for the blockchain-based feature will receive a computed, "One-way" cryptographic hash fingerprint that records every completed transaction and uploads the data to the Ethereum blockchain.
"This hash acts as tamper-proof evidence for the transaction and enables any completed document to be validated independently. And by using the Ethereum blockchain, that third party evidence for a transaction is accessible to anyone."
In a short span, the broader blockchain community has seen naysayers proclaiming "No use" for the technology to a plethora of companies and governments adopting and supplementing their system with the innovation.
Recently, the World Bank used Ethereum to issue a $73 million bond in Australia for experimenting with and testing the economic aspects of deploying the technology on a large scale.
U.S. Digital Signing Giant DocuSign Integrates Ethereum For Smart Contract Signature Verification
Published on Oct 15, 2018
by Cryptoslate | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.