Digital Signatures and Blockchain

For decades, digital signatures have been the method by which systems have provided integrity, non-repudiation, and authentication to access the contents of a data set electronically across networks.

Digital signatures are commonly used in emails and other systems and are created using a mathematical algorithm that creates a hash (“signature”) using information from both the contents of the message and information stored in the key.

Digital signatures have become a key control in many organizations security strategy, relying on the use of certificates and complex mathematical algorithms to provide authenticity of the data and protection against forgery.

Blockchain enters the mix by adding on the business ledger aspect, allowing for multiple signatures, the creation of fingerprints and/or timestamps, and distributing information across multiple systems in a network verse the centralized server.

Blockchain adds the greatest value in the “proof-of-work” concept – transactions cannot be edited or removed, which greatly secures transactions and signature technologies.

In this white paper, we delve into what is the significance of Digital Signature for an organization in terms of data protection, security concerns, data breach. We also try to gain insights into the market trends (Global and India) of Digital Signature. The very most important feature discussed here is Blockchain based  Digital signature and its growing acceptance.

Blockchain

Everywhere you turn in the security world, an interesting word keeps popping up: “Blockchain”. Just like the word “cloud”, this concept has taken hold of the security industry and has become one of the hottest emerging technologies. But what exactly is it?

In basic terms, it is a system which can provide authentication and immutable copies of data, thus securing all types of data transactions.

Blockchain truly became a hit when Bitcoin first implemented the use of a Blockchain application. It was the most advanced cryptocurrency system to date, and many organizations including NASDAQ and financial services clearing corporations have begun looking into the system as an innovative way to implement additional security measures into their transactions.

Blockchain, while seemingly complicated, is very simple in nature: the blockchain is a series of timestamped data records that link together, forming the “chain”. Blockchain’s intent is to replace an external, trusted third party (including the need for certificate authorities), and also prevent anyone from being able to go backward and cover their tracks if they corrupted an entry.

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