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Digital Signatures and Transaction Management for IT Companies that Love Blockchain and Web 3.0

  • Name
    Shamsh Hadi

Digital Signatures and Transaction Management for IT Companies that Love Blockchain and Web 3.0

You don’t have to be a DAO to appreciate the potential of communicating, sharing, and buying things online without the control of Big Tech but instead through a “multitude of small competing services on the blockchain.” 

That’s the essence of Web 3.0 (or Web3), and if your IT organization aspires to something similar, then ZorroSign’s multi-chain blockchain platform was built for you!

If You Embrace Decentralized Solutions…

The idea of escaping a centralized authority managing protocols, transactions, and access was built into the World Wide Web from its earliest days.  And while blockchain technologies get a lot of press today, they were conceptualized in 2008.

Blockchains are distributed ledger technology (DLT) leveraging cryptography—user authentication, data encryption and verification—to secure information records (blocks) distributed across peer-to-peer (P2P) networks. DLTs replicate, share, and synchronize digital data geographically spread across multiple sites (nodes), with no central data storage or administrator. They can run publicly (open) or privately (permissioned).

  • Public blockchains can readily be used as cryptocurrencies—creating and using a coin which serves as digital money.  For example, Ether is the coin of Ethereum, Hash is the coin of Provenance Blockchain, Lumen is the coin of Stellar, etc.
  • Private blockchains are commonly used as business apps. Here, an organization (or consortium of organizations) controls access to the blockchain—limiting its distribution but also elevating its security. While cryptocurrencies are often in the news for major purchases, market fluctuations, and hacks, blockchain business apps are often in the news highlighting how blockchain can shape business, government, healthcare, and many other industries including legal services.

Perhaps most importantly, blockchains can support smart contracts—where terms, conditions, and permissions written into the digital code that require an exact sequence of events to take place to trigger the agreement of the terms mentioned in the blockchain contract. This hardwiring of contract details greatly increases speed (via automation), trust (where accuracy and backup are built into the transaction), and autonomy (as no third parties are required to mediate or control the exchange) of transactions.

As such, centralized solutions such as blockchains have immense potential to transform business contracts, real estate deals, digital rights, supply chain security and provenance, estate planning, and many other legal transactions.

If You Demand Privacy and Security…

More than 90% of all cyber attacks begin with phishing but blockchain architecture, originally built for zero-trust environments, gives IT organizations a compelling alternative to centralized databases and a strong protection against cyber attacks. How?

  • In phishing attacks that seek to steal data, blockchain presents a data architecture where no single endpoint node controls the data set. Even if an individual endpoint is hacked through phishing or other social engineering, the data set is distributed across many nodes. This decentralization of data and access means even successful phishing attacks that penetrate a blockchain endpoint only gain a small piece of system access.
  • In cyber attacks that seek to inject malware such as ransomware, the distributed nature of blockchain defeats those seeking to breach a system then holistically ransom the data files stored therein. Again, a single endpoint node might be breached, but the larger data set cannot be controlled by any one endpoint (or central authority) and so attackers cannot capture the full data set for encryption, ransom, and shutting down the network.
  • Recovery is quicker with blockchain, too. With blockchain, each endpoint node has a unique encryption key to access and write to the distributed ledger. If any one of those endpoints is successfully hacked (compromising their access key), the blockchain can simply remove distributed ledger access for that compromised key, issue the endpoint a new key, and allow that endpoint to quickly regain distributed ledger access (effectively as a new endpoint). This speedy recovery process effectively maroons any ransomware on the endpoint it attacked—ending its access and threat—while allowing the endpoint to re-engage the larger data set with a new key and without needing to pay any ransom to the attackers for restored access.

If You Digitize Operations and Customer Experiences…

For your employees and customers, your IT company’s digital efficiency is vital: Saving time and effort, automating processes, and digitizing operations can result in real dividends in efficiency and effectiveness, resulting in employees with more time to work on the most important projects, and more customers served and satisfied.

It’s likely that you deliver your solutions via the cloud or digital endpoints, and decentralized solutions speed the efficiency of such systems. We’ve already discussed how blockchain decentralizes data while elevating privacy and security, but it can also drive digital operations and help support digital customer experiences.

Again, the smart contract capabilities of blockchain might augment your customer experience with increased automation for self-service, speeding trust, and facilitating autonomy in a technology ecosystem that does not require a central authority to manage or approve transactions.

Finally, digital operations eliminate paper so “going green” with paperless operations may readily align to your IT organization’s corporate social responsibility goals or vision. 

…ZorroSign Delivers the Latest Technology, with Privacy and Security, for Digital Operations

ZorroSign was built from the ground up on blockchain technology!

We deliver a multi-chain blockchain platform for digital signatures that also provides identity-as-a-service (IDaaS) capabilities through a patented Z-Forensics token, plus fraud prevention, user authentication, and document verification. Artificial intelligence (AI) and machine learning (ML) features allow automated form completion for your digital documents, and can improve your regulatory compliance across global standards for legally enforceable digital signatures.

ZorroSign technology leverages the biometric capabilities of hardware endpoints to verify user identities—for example, PC and mobile device fingerprint scans, iris scans, and face recognition to ensure users are who they claim to be. ZorroSign is proud to be the first to adopt password-less login amongst our digital signature competitors. ZorroSign multi-factor authentication (MFA) provides maximum security, as before a user can sign a document, our platform can validate multiple dimensions of authentication based upon your transaction security needs: What you know (i.e., your ZorroSign login password ), what you have (e.g., your laptop or mobile device), who you are (e.g., biometrics such as fingerprints or eye iris on the device securing who can access it), etc.

Further, ZorroSign’s platform was based on the Sherwood Applied Business Security Architecture (SABSA)—a proven methodology for developing business-driven, risk and opportunity focused security architectures. We leverage Defense in Depth (DiD) mechanisms, such as AI-based Web Application Firewalls (WAFs), Intrusion Detection Systems (IDS), Intrusion Prevention Systems (IPS), and border routers. Plus ZorroSign brings personally identifiable information (PII) data security, 24/7 monitoring, business continuity/disaster recovery policies, security logging and incidence response via Elastic search Logstash and Kibana (ELK), and Microsoft Intune for unified endpoint management.

For IT companies, governments, and individuals that desire to securely transform paper-based workflows, ZorroSign’s digital signature and document management platform can decrease costs, reduce errors, and increase productivity.

Running on the Hyperledger Fabric private blockchain or the public Provenance Blockchain, ZorroSign can ensure privacy is always maintained as only approved endpoint users can write to ZorroSign’s blockchain database. As a result, ZorroSign’s architecture has even tighter privacy and security measures than centralized databases.

Finally, at ZorroSign, we help IT companies to achieve a paperless life. We all understand that switching from doing business using paper to digital records is not only a smart business decision, but it is also good for the environment. Each time you use ZorroSign to digitally transact agreements, contracts, and other documents—instead of printing, faxing, scanning, shipping documents overnight to collect signatures—you save trees and water, plus reduce carbon emissions.

Learn more about how ZorroSign serves the IT industry, contact us with any questions, or start your 14-day free trial today!