ZorroSign CEO Reinforces Benefits of Blockchain in Testimony to the U.S. House Committee on Small BusinessBlockchain technology helps make digital transactions more secure, faster and less expensive for small businesses.
Tuesday, March 10, 2020 – Washington, DC — Shamsh Hadi, CEO of ZorroSign, Inc. reinforced the benefits of blockchain and its critical role in helping small businesses in the United States take full advantage of advances in cyber commerce and maximizing their ability to have a high level of security and ensure the privacy of their customers.
“Without consumer confidence and trust, small businesses will not be able to compete in the global cyber-economy. This is where blockchain can be a vital component of the continued growth and resiliency of American small businesses,” noted Hadi in testimony submitted earlier this month to the U.S. House Committee on Small Business. ZorroSign is a pioneer of real electronic signature and a patented document fraud and tampering detection system built on blockchain.
On March 4, 2020 the U.S. House Committee on Small Business held a hearing on, “Building Blocks of Change: The Benefits of Blockchain Technology for Small Businesses.” Mr. Hadi’s written testimony will be part of the committee’s official hearing record. The hearing was held as part of the committee’s ongoing effort to develop a better understanding on how blockchain technology can benefit small businesses.
“My company, ZorroSign, has made extensive use of blockchain technology to provide its customers with state-of-the-art electronic signature, digital signature and data transaction management services,” said Hadi in his testimony. Mr. Hadi also pointed to a February 2019 paper on blockchain issued by the National Institute of Standards and Technology (NIST) that concluded that blockchain is “…an ideal candidate to record and secure data exchanges.”
Hadi noted that “blockchain is important because it has unique qualities that set it apart from other transaction database management systems. Specifically, blockchain is being used today in private, permissions-based decentralized systems that are secure, trusted and automated with bank grade security. Ultimately, blockchain technology helps make digital transactions more secure, faster and less expensive.”
“…one of the most exciting benefits of blockchain technology is its unique ability to help small businesses cost-effectively secure transactions and protect their customers’ personal information,” summarized Hadi.
To read the full testimony, click here.
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ZorroSign, Inc. is the pioneer of electronic signature technology and the developer of ZorroSign DTM, a unified platform, a complete Electronic Signature, Digital Signature and Digital Transaction Management solution. ZorroSign’s unique Document (patent pending) 4n6 (forensics) technology offers post-execution fraud detection and verification and authentication of electronic signatures, digital signatures and documents using blockchain tokenization.
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