Thursday, June 30th, 2022, marks the twenty second year signing anniversary of the Electronic Signatures in Global National Commerce (ESIGN) Act, which declared that electronic signatures are as legally binding as traditional pen-and-ink signatures in interstate and foreign commerce. Later in 2010, Congress designated June 30th National ESIGN Day to raise awareness of the innovative technology and promote its advantages in the rapidly developing digital economy.
SIGNiX began around the same time as the signing of ESIGN act – we have been in the business of electronic signatures from the beginning with over one billion digital signatures processed!
Since its recognition by the federal government, the established legality of using electronic signatures has had an incredible impact on businesses and organizations around the world. Whether the public knows it or not, if they are on the internet, they are using electronic signatures every day. Every time someone clicks to accept the new Terms and Conditions or makes a purchase online, they are providing a legally binding electronic signature.
In addition to improving the economy by facilitating more efficient transactions, electronic signatures have had a positive impact on the environment as well. Millions and millions of trees are harvested each year for making paper and paper products. By switching to electronic signatures and documents, businesses and individuals help reduce the use of paper and the negative environmental impact.
While the benefits of electronic signatures cannot be overstated, it is important to understand that not all electronic signatures are created equally. With basic electronic signatures, the signer clicks on an overlay that places an image of a signature on the intended document. The image is not permanently embedded into the actual document, and verification of the signature, its association with the “signed” document, and the validity of the document are all dependent on the electronic signature vendor.
Digital signatures represent a fundamentally different technology and stand out by using public key infrastructure to permanently insert a digital certificate into each signature field in every document. This capability ensures that the legal evidence proving the validity of a signature is permanently embedded into the digital document, and there is no reliance on a third party vendor to provide this proof.
SIGNiX’s true digital signature technology provides a secure, fast, and convenient signing process for individuals and businesses in highly regulated industries, including financial services, insurance, and healthcare. This technology ensures document enforceability and independent verification by giving users complete ownership and control of their digitally signed documents. Because all the necessary legal evidence is contained within the digitally signed document, SIGNiX clients can store their documents on their own servers and not rely on SIGNiX as a vendor to provide future evidence and validation.
Are you interested in learning more about the technological difference and the benefits of choosing true digital signatures? Get a demo and start signing today!