Technology has pretty much dug its claws in every facet of our life. There is a very thin line between our private and public lives, such a delicate and amorphous space that we need to tread very carefully. As important and integral technology has become in our daily routines, the need to define boundaries in order to maintain our security and safety has heightened as well.
Validating With Digital Signatures
With the advent of technology, it was expected that soon, the smaller aspects of our lives will be donning on a cloak of digitalization. Digital signatures – just a small pixel of a larger image but very vital and significant. The word itself is very self explanatory, it is an electronic way of assigning integrity or authenticity to a document online. It derives its essence form the handwritten signatures that are placed beneath legal papers or contracts to bind its validity. Likewise, these are used on documents by the person who created them so that there is surety to the receiver that the document has not been altered since it was signed.
Key guard mechanism
The digital signature works on the encryption and decryption mechanism. The sender encrypts any data, say a word document (with a key called private key) that can be decrypted only with a special key (public key) – the one the receiver is in possession of. It consists of a mathematical calculation on whose basis it decrypts the whole data and transforms it into readable format. As each user has a unique key which is used to encrypt data that ONLY he possesses, hence it helps in verifying the identity of the sender. Therefore the possibility of repudiation decreases significantly and fraud and forgery are eliminated to a great extent.
Significance in global arena
Apart from the authenticity point of view, digital signature holds several other advantages that are the root cause for its mass use in commercial and business arenas. As the world grows smaller and smaller with globalization spreading its wings, the need to communicate between different geographical areas has risen as well. Digital signature allows documents to be verified immediately irrespective of your current location. You can easily validate a contract or complete a transaction. Time is saved and deals are sealed.
Salting Away Paper Cost
It also helps you save paper cost. With the depleting resources issue that the planet is going through or is predicted to experience soon, this small step practiced on a large scale can help us save Mother Earth on several levels. Also, you get to save storage spaces and perhaps utilize for some other purpose. You get to surpass all those courier, mailing and printing costs.
Leading Towards Technological Ease
However, the downside of a digital signature is that it’s wrong in assuming that general masses would be familiar with its usage; that is not so. However, as mentioned before that everything is converging towards this huge magnetic ball called digitalization. Hence for our own ease, we should acquaint ourselves with this amazing technology. Embracing the new inventions is for our own good; their effective use and implementation hold the key to convenience, something every individual yearns for. The security and safety measures it offers are irreplaceable and undeniable.
Author Bio : Anna Stacy has in-depth knowledge and experience of Digital signature solutions. Her basic forte lies within process optimization and process re-engineering, and has a long-term obsession with e-sign. She is a leading source of what’s hot and what’s not in the online digital signature space.