OneSpan (NASDAQ: OSPN), the digital agreements security company, announced a unique new capability to its market-leading e-signature solution, OneSpan Sign, to give organizations a better way “to safeguard the provenance of a document against emerging security threats.”
The newest addition to OneSpan’s portfolio, Trust Vault, “helps guarantee the integrity and long-term viability of documents on immutable storage based on blockchain technology, throughout the lifetime of the document.”
With recent technology developments related to AI and the rise of quantum computing, it’s increasingly clear that “the integrity of digital agreements is under attack, leading to data loss, manipulation, identity or asset theft, and legal consequences for an organization.”
Today’s existing e-signature and general cloud storage solutions “cannot guarantee the authenticity of documents over extended periods of time.”
OneSpan Trust Vault reportedly “combines traditional digital signatures with blockchain technology to create quantum-safe proofs.”
These quantum-safe blockchain transactions “prove the origin date and integrity of the digital agreements and are not dependent on private keys that might be leaked or hacked.”:
OneSpan’s Trust Vault capability is a solution that can “provide long-term evidence of the authenticity of valuable agreements and transactions.”
Matthew Moynahan, President and CEO at OneSpan, said:
“As we head towards the impending era of quantum computing, the foundation of any business will be dependent on the legitimacy and authenticity of digital transactions. As contracts evolve from document-based to whatever future form they take, any binding agreement must be secure and stand up in a court of law. ”
Thanks to its blockchain foundation, Trust Vault is “a decentralized digital storage solution, which means that trust extends beyond OneSpan.”
Trust Vault serves all industries to “help organizations meet compliance, regulatory, and chain of custody requirements for any document requiring additional layers of protection.”
Trust Vault is differentiated by its key features and benefits, including:
- Irrefutable origin date: Knowing the exact date of origin or creation of a document with irrefutable certainty instills trust in the document’s authenticity. This is crucial for legal, financial, and regulatory purposes, as it eliminates doubts about the document’s age and history.
- End-to-end audit trail: Every user action of the transaction is meticulously tracked and made accessible through the platform. This helps organizations meet regulatory compliance requirements and demonstrates a commitment to transparency and accountability.
- Tamper detection and prevention: Organizations can maintain the integrity of their documents with confidence, knowing that any attempt at tampering will be promptly detected. This is essential for ensuring the accuracy and reliability of valuable documents.
- Automated workflows: Organizations can ensure that every step in the signing and storage process is embedded in the workflow which leads to reduced human error and also saves time.