Asian Tech Companies Are Battling Over E-Signatures
Tencent recently launched its electronic signature platform, which provides enterprises and individual users with secure and convenient electronic contract signing and corresponding evidence preservation services. Users can sign an online contract with a designated party under the premise of real-name authentication, and save the signing process and results through blockchain technology throughout the entire process to ensure the validity of the contract.
Source: Dedoco
Another tech giant ByteDance also introduced a new electronic signature and document management application: Dianzi Qian, with the adoption of e-signatures accelerates among enterprises.
Dedoco, Singapore’s first decentralized digital document and signing platform, announced that it has completed its seed funding round of USD 2.5 million. Dedoco has clients that span government organizations, banks, professional services, and real estate.
Covid-19 changed the way people work and broke down many of the barriers. Physical cryptographic cards and tokens that store electronic certificates, including qualified signature certificates, will give way to cloud-based solutions that offer convenience, mobility, and here-and-now access.
Authentication issues are moving front and center. Ramping adoption and the increased value of transactions settled electronically have led to a sharper focus on fraud, legal challenges, and authentication validity. In an e-signature transaction, the authentication step contributes to the enforceability of the signed document and validates that a company is transacting with the correct person in the signing process. For companies, approaches include looking for electronic signature software that supports a wide array of authentication methods to ensure the best user experience and mitigate the risk of fraud.
Source: Dedoco
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