Hitachi develops an electronic signature provider that eliminates personal seals through the use of blockchain technology

Hitachi Ltd says it is rolling out the Hitachi Electronic Signature Program, which implements secure electronic agreements predicated on blockchain (distributed ledger) technology. The assistance digitizes the signatures and seals of paper records such as for example contracts exchanged between businesses, and promotes to remove personal seals.

The utilization of blockchain guarantees the authenticity of signature information and improves resistance to data tampering. Hitachi stated the services provides stable system procedure by using the Hitachi Blockchain Service for Hyperledger Fabric because of its blockchain platform. It really is suited to transactions between multiple companies and has also been employed for traceability devices in inter-company supply chains.

Hitachi began to operate the services at the procurement department at its hq this month. The company said it will launch sales to companies in Japan after July. Later on, it ideas to roll out to global companies with a give attention to North America.

At the moment, the introduction of remote operating, including working from home, is normally expanding rapidly as a measure to control the pass on of COVID-19 infections. Many corporations are in the process of setting up the infrastructure environment for flexible working regardless of location. On the other hand, at Japanese corporations, specifically, the procedures for affixing signatures and personal seals to paperwork, including agreements exchanged between companies, have proven to become a important obstacle to remote doing work. On top of that, binding and mailing first papers, buying and affixing earnings stamps, and storing documents require a lot of time and money. In this example, there is rising fascination in electronic signatures that work with digital technologies alternatively method, but there are problems around security to avoid info tampering by third celebrations.

When users sign a file in the Hitachi service, hash information and period stamp data for the digital info are recorded in the blockchain. Data kept in the blockchain is certainly highly resistant to tampering, and in comparison to the use of standard relational databases, the authenticity of the info is improved.

Generally, when corporations use electronic signatures and contracts, it might be necessary to use a number of different systems reliant on the services utilized by the business enterprise partner. This service gives a function for centralized file control that imports signed files by connecting to various other electronic contract offerings via an API that facilitates information exchange between different corporations. The connected solutions will be expanded later on.