26 C
Manchester
August 9, 2022
Image default
Bitcoin

Billon and WISeKey will enable remote signing of documents using blockchain –

Billon Group Ltd. has signed a cooperation agreement with WISeKey International Holding, a leading Swiss company in the field of cybersecurity, artificial intelligence and IoT. The collaboration includes the integration of Billon’s distributed ledger technology with WiSEKey’s Managed Public Key Infrastructure (MPKI) services to bring the trusted remote document signing service to market.

Blockchain, thanks to its immutability, increases the security of electronic transactions. However, many existing protocols have difficulties in handling digital signatures, verifying offline transactions, or giving them legal force. In addition, most existing blockchain technologies lack a consistent approach to confirming the identity of transaction participants – a key thing in remote contracting.

WISeKey has designed a solution that uses trusted digital certificates and fills these gaps in blockchain implementations. Its use, together with the Billon platform for trusted document management, enables offline verification using standards such as XAdES or PAdES and allows for the introduction of digital signatures stored on the blockchain, representing the trusted digital identities of transaction participants.

“The current remote contract signing platforms identify the parties to the contract via email and SMS. It is not a method that allows for an unquestionable statement that the contract is concluded by the right parties. The identification methods used by Billon in combination with advanced certificates issued by WISeKey provide greater certainty and additionally authenticate remote signing of documents. Remote signing of documents as part of a trusted document management solution offered by Billon can be successfully used to handle all types of contracts both in Poland and in international trade, ensuring the highest level of data and document security “- commented Bogumiła Cebelińska-Woźniak, head of document solutions at Billon Group. “This integration proves that a synergy can be generated between seemingly competing technologies such as blockchain and PKI.”

“We are delighted to be able to integrate state-of-the-art technologies to ensure the security of the digital transformation process as well as regulatory electronic signature proof of contract,” commented Carlos Moreno, Vice President, WISeKey Corporate Collaboration & Partnership. “Our collaboration enables the exchange of business information based on a revolutionary level of security of unchanging data in the blockchain.”

The ability to sign documents online is of increasing importance during the COVID-19 pandemic, when face-to-face meetings are not always possible. The global electronic signature market was worth over USD 950 billion in 2019, and it is expected that by 2030 it will grow by an average of 25% annually.

Related posts

The bitFlyer exchange integrates with PayPal |

Aparnna Hajirnis

Senator Lummis wants to educate politicians on BTC –

Aparnna Hajirnis

Cryptocurrency excavators – profitability analysis of popular models –

Aparnna Hajirnis

Leave a Comment