Verifiable Signature Made Easy

Verifiable signature

[Music] [Music] let's get right into it verifiable digital signatures what does that mean exactly uh it's a digital signature that can be verified by any party using a transparent process to prove that a specific person and not necessarily a specific account signed a document we're using facial biometrics so we're taking pictures of government selfies we're taking pictures of you and comparing them against each other we're putting that information along with the document information all into a same signature and attaching that to a blockchain anybody you choose to share that document with can verify that you or your other signatory signed that document and nobody else [Music] what type of companies care the most about having authenticated and verifiable digital signatures these are the types of signatures you use when you really want to eliminate your risks of fraud or when you're doing that high risk highly sensitive material so we see a lot of lawyers we see lenders we see insurers particularly in a digital world where we may not always know our clients it's important to sort of have those tethers that we can start proving these things when we need to it's hard to do that when a digital signature is just linked to an email address [Music] digital signatures kind of exist in three levels there's an electronic signature which is just a marking uh that could be a scribble on a tablet uh legally it's also the footer of your email um and that sort of is attributable to you but there's no real proof that we can do that a digital signature uses cryptography to prove that the document has integrity so we can say that a document has integrity but that's linked to an account not a person what a verifiable digital signature can do is that allows us to link a person a physical person to a document um and that gives us the ability to do some things that most signatures can't do uh for example third-party verifiability means that if i sign a contract with you right now and walk into the bank the bank can tell that you and i had signed this contract second is the use of biometrics uh the fact that we're signing with a selfie uh means that we can prove that it's you and nobody else who's signing it and then there's the use of a blockchain most digital signatures run on cloud services we do ours on a blockchain which allows us to create a tamper-proof reference to the document so when you actually go to verify it it's always there in its original form and you can better prevent fraud by actually examining that the document you signed is specifically the document that's living there on blockchain [Music] where do you see this industry going i mean what's next for digital signatures there's what's next and there's what's in two steps and i want to talk about both because the two-step one is really cool what's next is uniformity on digital identity the rules regarding digital identity are not uniform between finance and law and let's say medicine and those kind of need to align so we can create frictionless verification and that means that we can basically trust any document going anywhere from almost any company that's what i think is coming next the two step which i think is way more interesting is understanding issues surrounding capacity uh and mental awareness when signing documents if your client is signing a document under duress or they're being coerced by somebody they may still be signing that contract but they may not actually want to sign that contract they might be under mental stress mental address etc and one of the really interesting places where legal tech wants to go in this is understanding that someone is a sound mind when they sign a contract don't forget to subscribe to the smart alone's youtube channel for more videos that will help you make smarter financial decisions [Music]