HyFi Electronic Signature Engine
Electronic Signature Engine (ESE - pronounced 'easy') is a blockchain web-service for quick, secure & private electronic signing.
The actual document to be signed or verified does not need to be transmitted. Only the hash needs to be transmitted for signature generation & verification.
ESE connects to the Global Repository for E-signatures And Timestamps (GREAT) for instant document verification and proof-of-existence.
ESE can be used to:
- Electronically sign documents without revealing actual content.
- Demonstrate data ownership without revealing actual data.
- Document time stamping.
- Prove ownership.
- Check for document integrity.
2. Legal aspects of electronic signatures
The term 'electronic record' includes data, record or data generated, image or sound stored, received or sent in an electronic form. Examples of electronic records include documents in text, pdf, html, doc, ppt, html, mp3 and other file formats.
Some of the important features of an electronic record are preservability, accessibility, readability, comprehensibility in respect of linked information, evidentiary value in terms of authenticity and integrity and augmentability. Electronic records can be produced, replicated, distributed and stored at near negligible costs.
The legal concept of an electronic record having parity with a paper-based or written document was introduced by the UNCITRAL Model Law on Electronic Commerce, 1996. This concept has subsequently been included in the laws of many countries.
Major countries have either permissive / minimalist laws or two-tier laws relating to electronic signatures. In countries with ***permissive / minimalist laws***, simple electronic signatures have the same status as handwritten signatures provided both parties agree to the use of electronic signatures. In countries with ***two-tier laws***, digital signatures have the same status as handwritten signatures, but electronic signatures are also legal and enforceable. For details, see the Global Guide to Electronic Signature Law.
3. Standards and algorithms
As an electronic analogue of a written signature, a digital / electronic signature provides assurance that:
- the claimed signatory signed the information, and
- the information was not modified after signature generation.
Federal Information Processing Standard (FIPS) 186-4, Digital Signature Standard (DSS), specifies three NIST-approved digital signature algorithms: DSA, RSA, and ECDSA. All three are used to generate and verify digital signatures, in conjunction with an approved hash function specified in FIPS 180-4, Secure Hash Standard or FIPS 202, SHA-3 Standard: Permutation-Based Hash and Extendable-Output Functions.