All solutions for document signing use a system of digital signatures or electronic signatures.A digital signature is different from an electronic signature, which is simply a traditional signature drawn onto an electronic document (For example: with an electronic pen), or a scanned physical signature.

Electronic signatures are easily copied or forged, and provide no mechanism for verification or standardisation. On the other hand, digital signatures can be used to verify that a specific document was indeed signed by a specific person.

https://www.docusign.com/how-it-works/electronic-signature/digital-signature/digital-signature-faq

Problems in Existing
Online Document Signing Solutions

The world still struggles to get out of the certification model that is only based on a pen, someone who wields it and a designated authority that validates what he writes with it.They are already several generations that hacked this system from child stage. I personally did it by signing my school report simulating the signature of the contractual counterpart (my dad)!

The document-signing process is basically about keeping everything documented and also carries communication between two or more parties. But sometimes, signing documents or contracts becomes a confusing or tedious process. Also, it is sometimes impossible to certify the authorship of the signatories.

What is Blockchain for Document Signing?

The world still struggles to get out of the certification model that is only based on a pen, someone who wields it and a designated authority that validates what he writes with it.They are already several generations that hacked this system from child stage. I personally did it by signing my school report simulating the signature of the contractual counterpart (my dad)!

The document-signing process is basically about keeping everything documented and also carries communication between two or more parties. But sometimes, signing documents or contracts becomes a confusing or tedious process. Also, it is sometimes impossible to certify the authorship of the signatories.

https://scialert.net/fulltext/?doi=itj.2005.204.221

https://www.keycdn.com/support/sha1-vs-sha256

The Safe and Secure Blockchain Document Signing Platform

The Blockchain document signing ecosystem can be used to manage and sign contracts using the platform as well as to view users and analytics reports.

Step 1:

Sign up in the platform; upload the document; and add the signature. The signature is basically a signature stamp that contains the user’s name and email address.

Multiple individuals can sign in the given document if required in the same way.

Step 2:

By using the Hash function, the signature stamp is converted into a unique string of letters and numbers.

Step 3

The input (signature stamp) and output (hash) is then recorded in the record book called blockchain.

Step 4

Verification of Documentation and validating the authenticity of signatures can be done by the users.

The hash should be the same after uploading a signed document as that of the hash generated at the time of signing, then the document would be validated.

If the hash is not the same, then there are chances of the document being altered and manipulated. But the chances of these cases are seen to be very low as blockchain keeps it secure from any third-party.

How is Blockchain-based Document signing better?

The trust and traceability of Blockchain apps gives enormous opportunities to the document signing industry. By signing a document via blockchain document signing platform, we can replace all the possibilities of the document getting altered which prevents the customers from rechecking of any entry.

Some more advantages
Decentralized document verification allows customers to execute the latest documents and verify their authenticity.
Easy sharing of verified documents with third-party requestors.
Reduced time of document signing process.
Quick processing of different areas of the documents.
Fast-paced multi-party verification.

Moreover, blockchain technology is the future of document signing industry, these platforms helps all concerned parties and helps assisting the tedious document signing process.

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