Presently, when many people consider digital signature recording the very first technology you think of is Public Key Infrastructure or (“PKI”). However, that old guard of PKI is really a dying technology. PKI is a great solution with serious limitations which will hinder and hamper its ongoing growth. PKI is both costly to apply and costly to keep. PKI can also be time intensive. Professionals don’t want to slow lower the sales cycle to transmit anyone to a 3rd party certificate authority just to create a purchase.
PKI authenticates however it does not identify who a person is. The Aba [https://privasign.com/whitepaper-pki.asp] identified this critical weakness in the ABA PKI Assessment Guidelines, D.3.1.2 states “a pseudonym or alias can be utilized because the name inside a certificate” and never their real name.
VeriSign, among the largest PKI solution providers, admits within their paper “ROI for PKI” [https://privasign.com/whitepaper.asp#pki] that “PKI systems are particularly costly to keep.Inches
By providing capacity to the company and never a 3rd party certificate authority, PrivaSign can help companies attempting to adhere to regulatory law and standards like the ABA Guidelines relating to electronic signatures.
Most electronic signatures are taken via a method known as “click-wrap”. People make use of this method when they install new software or purchase something online utilizing a charge card. The machine will validate their identity after which require user to click an “OK” or “I Accept” button to set up the program or authorize a charge card transaction. The main reason many people make use of the “click-wrap” process is within its simplicity. There’s no training needed and many users get confident with the procedure after only one use. Click-wraps happen to be tested within the courts by a large number of companies, including America online-Time Warner, Microsoft, Netscape, Sun Microsystems and Dell simply to name a couple of. We’ve got the technology essential to make use of the method is built straight into browsers so there’s no software to set up. Finally, it’s considerably less costly to keep, install and process than traditional PKI technologies.
PrivaSign utilizes a patented, proprietary “click-wrap” approach to capture the particular signature and also the industry standard type of file encryption referred to as Secure Socket Layer (“SSL”) technology, together with MD-5, SHA1 and SHA2 file integrity hashes to safeguard the PrivaSign client’s data having a tamper proof seal. SSL is generally obtainable in just about any internet browser and also the user doesn’t need any special training or instruction to use the service.