Top Digital Signature Applications
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Top Digital Signature Applications

By CIOReview | Monday, June 28, 2021

Electronic documents, transactions, and digital messages can benefit from digital signatures as proof of origin, identity, and status. They can also be used to affirm informed consent by signers.

FREMONT, CA: A digital signature is a mathematical approach for verifying the integrity and validity of a message, software, or digital document. It is the digital counterpart of a handwritten signature or a stamped seal, but it has a lot more security built-in. The purpose of a digital signature is to prevent tampering and impersonation in digital communications.

Electronic documents, transactions, and digital messages can benefit from digital signatures as proof of origin, identity, and status. They can also be used to affirm informed consent by signers. Digital signatures are legally binding in many nations, including the United States, in the same way, that traditional handwritten document signatures are.

Uses for Digital Signature

Digital signature technology is used in a variety of industries to improve document quality and expedite procedures. Digital signatures are used in the following industries:

Healthcare

In the healthcare industry, digital signatures are used to improve the efficiency of treatment and administrative operations and e-prescribing and hospital admissions. The Health Insurance Portability and Accountability Act (HIPAA) of 1996 governs the use of digital signatures in healthcare.

Manufacturing

Digital signatures are used by manufacturing organizations to speed up operations such as product design, Quality Assurance (QA), production improvements, marketing, and sales. The International Organization for Standardization (ISO) and the National Institute of Standards and Technology (NIST) Digital Manufacturing Certificate (DMC) oversee the use of digital signatures in manufacturing.

Financial Services

Contracts, paperless banking, loan processing, insurance documents, mortgages, and other financial transactions in the United States use digital signatures. The Electronic Signatures in Global and National Commerce Act (E-Sign Act), state Uniform Electronic Transactions Act (UETA) regulations, the Consumer Financial Protection Bureau (CFPB), and the Federal Financial Institutions Examination Council (FFIEC) all play a role in the use of digital signatures in this heavily regulated industry.

Cryptocurrencies

Digital signatures are also used to authenticate the blockchain in bitcoin and other cryptocurrencies. They are also used to store bitcoin transaction data and as a mechanism for users to prove their ownership of the money or their participation in a transaction.

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