Web3 Digital Signatures with Akord and Dedoco
Recently we brought you news that Akord had released V2 of their protocol, while at the same time making it open source. The official announcement of V2 came with a little Easter egg so to speak, talking about a new feature which was already live on Akord V2, but had not officially been announced itself.
Now, Akord have brought this new feature into the light, and it is a big one.
Web3 Digital Signatures on Akord
Users of the Akord protocol are now able to send off PDFs contained within their Akord Vaults to be signed by third parties. The digital signature feature has been made available via the recent integration of Dedoco’s decentralised signing solution into Akord.
Let’s take a look!
I was not expecting this to be so advanced. Congrats, @AkordTeam !! 🤯 https://t.co/WeLMdm7Ymm
— 🐘🔗 sam.arweave.dev (@samecwilliams) October 11, 2022
Digital signatures on Dedoco and Akord
A digital signature is a way for verifying the authenticity of digital messages and documents. Something which is absolutely necessary in the digital era that we live in. It allows the receiver of the document to know that it has been legitimately signed by the sender, and can have full confidence of the signature’s authenticity and integrity.
Even though this is usually the case, there are some instances in which those levels of confidence and integrity cannot be as high. Instances such as when the receiver might want to send the document on to a third-party.
However, permanent storage and decentralised protocols can exterminate that problem altogether, offering methods not seen, or viable, in the Web2 space. One issue in Web2, is the presence of centralised authorities that can have control over these documents. Blockchain, on the other hand, allows for the integrity of information in a decentralised manner.
Another issue with Web2, is the non-permanence of data, where user error can result in data loss. But, decentralised and permanent storage solutions – like Arweave – can exterminate that issue as well.
Utilising these two aspects of Web3, together, Dedoco and Akord are perfecting the formula.
Anyone who has ever dealt with digital signatures may have heard of a certain service called Docusign. Docusign is amongst the biggest service providers of digital signatures today with more than 1,000,000 paying customers and over a billion users worldwide. Dedoco offers a similar service, but in the Web3 space, and is establishing itself as a secure and verifiable way to digitally sign electronic documents in the APAC region. Their infrastructure allows for a document-centric approach, as having the documents’ data stored on chain means they are always “true” (verifiable and accurate).
In the process they are creating a perfect foundation for many other protocols to integrate into their own code. Dedoco is essentially building the foundation for entire ecosystems to utilise.
Since the release of this feature, users now see the option ‘Send for signature’ in the file menu on Akord’s web interface. Selecting it takes them to Dedoco’s platform where their document will appear, ready to be set up and sent out for signing.
According to Akord blogpost:
We can realise incredibly secure workflows where legal documents are uploaded directly and versioned in Akord, each version protected by end-to-end encryption and stored permanently on Arweave, and then sent for signing with Dedoco. At no point is the document exposed to the risks inherent with web2 centralised cloud services.
Akord and Dedoco
Not only are users able to send documents for signing straight to Dedoco from within Akord, but users on the Dedoco platform are also able to send their documents straight over to Akord, to benefit from Akord’s features, like permanent storage.
With Dedoco’s integration, Akord users can look forward to features such as:
- Proof of originality
- Version checking
- Proof of acknowledgement
- Proof of status
- Proof of ownership
- Agreement management
- Proof of issuance.
The collaboration is a strong one for blockchain and Web3 as a whole, and we can’t wait to see what comes next!
Learn more in this blog post by Akord’s Co-Founder, Pascal Barry.