Kentro Sign is Officially Launched!
Physical Signatures = Dated Method Today? The days of physical signatures are quickly disappearing as the professional world increasingly goes into the digital realm. Within businesses, it is now increasingly common for different stakeholders, such as business partners, customers, suppliers, or even employees, to be based remotely. With everyday business operations requiring signatures and approvals from these stakeholders, physical signatures tend to slow these processes down because of their dependence on the physical exchange of paper. To tackle such issues, our latest solution, Kentro Sign, a permissioned blockchain-powered e-signing platform, is officially launched to digitalize the end-to-end document signing process.
Another constraint that arises is the forgery of handwritten signatures, every time we reproduce the signature by hands will always be slightly different. It is hard to be certain that the signature on physical papers is not fraudulent. Overall, a physical signature is easily accessible, changeable, tampered and is too inconvenient in today’s era.
High operations costs such as mailing documents are additional unnecessary costs for the business that could otherwise be used within various business development areas. Moreover, it’s extremely inconvenient and inefficient to store and organize physical documents. Not only does it make tracking and archiving difficult, but it also requires tedious amounts of human effort and time which could be put into productive use instead.
Many companies are adopting Cloud based digital signature platforms to replace physical signatures but they can’t guarantee absolute security and privacy. The boom of the digital era has come with its challenges as well. These years data leaks and security breaches are happening constantly. The global attacks is increased by 28% in the third quarter of 2022. The rising threat shows that security has become a vital part of data protection and prevent the data from theft.
Hence, the question always arises, ‘are our businesses privacy truly ever fully protected?’ The answer is yes, only with blockchain technology, which is the most simplified yet technically advanced solution to this. With a blockchain-powered digital signature, it solves the problem of tampering and impersonation in digital communications. They provide proof of origin and real-time traceability of document’s status, full audit trail of activities and hash-based security protection.
In essence, blockchain serves as a distributed ledger of immutable transactions. Unlike normal ledgers, blockchain is decentralized with no central authority ‘controlling’ the domain. With cryptographic hashing, blockchain is the most secure ledger system out there.
Introducing Kentro Sign
Kentro Sign is a blockchain-based e-signing platform. Built on a permissioned blockchain, access to various documents is customisable, ensuring absolute privacy. Unlike other cloud–based services, various documents and signing transactions are not even visible to Kentro Sign’s operator.
Kentro Sign operates around delivering 3 key features;
1. Enhanced security, 2. Greater privacy and 3. Higher efficiency.
Each digital signature is tied to timestamps which ensures that no unwanted changes are made. This transparency allows for an audit trail to be made which helps in tracking status updates on the documents. Moreover, Kentro Sign uses the hash function to protect the document and each edit made, making it immutable, and providing enhanced security.
Thanks to permissioned blockchain technology, participants are customizable by the user for specific transactions. Relevant participants will receive invitations to either authenticate or sign the document. Not even the operating network owners will have access to documents and their editing rights, allowing for greater privacy.
As a digital platform, it solves all original painpoints surrounding physical signatures; worldwide access, real-time updates and reliable authentication to name a few. This allows for less time spent on managerial processes surrounding document signing and allows for increased efficiency, allowing greater productivity.
Overall, Kentro Sign serves as a true, well-round solution to the initial industry pain points. With the higher security, convenience and lower cost, Kentro Sign, powered by blockchain, becomes the right choice for businesses to ensure safer workflow and customer satisfaction. Make your corporate lives easier and safer today with Kentro Sign.