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Guarantee e signature order

[Music] welcome the SCN corporate connect I'm Greg greenberg reporting live from the New York Stock Exchange and today I'm here with Seth Foreman he's the CEO of East signature welcome Seth thank you for having me well Seth blockchain and new technologies are changing the way stocks and bonds are changing hands and places like the NYC right behind us but before we talk about these new technologies tell me about what East signature does your role in the process so is signature fits right into the the environment of public companies when you're dealing with shareholders who need to transfer their stock and they need to get what's called a medallion stamp guarantee to verify that they are who they say they are and the traditional method would be that they would go into a bank or an institution get the stamp and be done they're finding that harder to to find and so that's where technology comes into play where we can validate them online and provide them the medallion stamp they need in order to transfer their securities so who are some of your clients who do you serve so really the the opportunity is to serve as any shareholder who has a security who needs to transfer it so we've had the opportunity to service those shareholders who have stock in anything from snapchat to Verizon to Boeing to Starbucks it's really an opportunity to be of service to the industry as a whole and one would think this is a pretty competitive space so what makes each signature better are you faster are you smarter how are you gonna win business so right now we're the only ones in the industry that can provide an online solution as banks more and more decide that this is not the space that they want to be in and who blames them in other words it's not necessarily their core product we're the only ones that have this the solution to provide to the investors on an on line basis all right so if I'm a company with a stock trading on the floor behind me I go to e-signature what are you gonna do for me should I give you my business well that's shareholder really is coming to us because they have no other solution and so they'll go online provide some information our technology will validate that they are who they say they are and they have the right to transfer the stock that they're looking to trade or to transfer and through our process we'll be able to provide that medallion stamp that they can intake to their transfer agent to complete process so you're making it safer because there's a lot of identity fraud out there that is the key in other words people always say to us well oh a notary and a medallion are the same thing let me be clear they are not the same thing a medallion provider such as ourselves we take on that potential liability for fraud and we're happy to do so because we know if we have the technology to back it up now how does blockchain and those new technologies I talked about before change the playing field I think that that's that's happening in real time and some of the technology we're working on is addressing that because at the end of the day blockchain is really going to be at the core of who is the person that's transferring those shares and how do you prevent identity theft so we'll see where that plays out over the next couple months now you're a lawyer and then you got into this business can you talk about how quickly the regulatory agencies are able to keep up with what's going on you know what every time we think that we have some time to breathe and really just spend some time and develop it comes behind us fast and furious so you know both as a stock transfer agent dealing with Aiko's and dealing with blockchain or in the medallion business dealing with online and identity protection it is coming fast and furious and we're just trying to stay out of the curve and then finally where is each signature going to be next year at this time so we think that there's a tremendous demand for being able to validate the identity for foreign shareholders and that's both on the new york stock exchange side and in general on all the exchanges they want to know that the foreign shareholders are there who they say they are and we've been working on technology that's going to allow us to to verify that to a comfort level that everybody's happy with all right well thanks a lot Seth thank you for having me thank you for watching Sen corporate connect