ShoCard launches digital signing service with blockchain KYC ID proofing
Blockchain-based identity authentication platform ShoCard has launched a digital document signing service leveraging the individual’s blockchain-certified ID, according to a company announcement.
The method developed by ShoCard consists of attachments for identity proofing and a cryptographic signature. ShoCard says a true digital signature of the hash of a document is created using the KYC results, as confirmed by a certifying authority and then maintained on the blockchain, which enables proof of the record regardless of how much time has lapsed, and without having to rely on intermediaries. The company says this is in contrast with other digital document signing systems, in which a true link between the individual and the blockchain signature is not necessarily present.
More than 75 countries now legally recognize e-signatures as valid, though proving who has signed the document is still difficult, according to the announcement.
“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,” says ShoCard Founder and CEO Armin Ebrahimi.
ShoCard’s Document Signing service is available for Android, with an iOS version expected soon.
OneLogin integrated ShoCard’s enterprise blockchain product with its IDaaS platform to compliment employee SSO systems last year.