 - The Electronic Signatures in Global and National Commerce Act
(often referred to as the e-signature bill) specifies that in the United
States, the use of a digital signature is as legally
valid as a traditional signature written in ink on paper. In effect since October 1,
2000, the U.S. law is expected to save companies that use e-signatures
a significant amount of money by reducing the costs of mailing and handling
hard-copy contracts and similar documents.
The Act does not specify a single digital signature technology.
Many e-signature advocates expect that the public key infrastructure (PKI),
used for authenticating credit card transactions over the Web, will play
an important role in the development of secure e-signatures. Several third-party
companies are now exploring other methods to verify a person's legal identity,
including the use of personal smart cards, PDA encryption
devices, and biometric verifications (fingerprint, voice, or iris scans).
Experts agree that until the legality of e-signatures has been tested in
the courts,
the routine use of e-signatures is likely to be several years away,
primarily because businesses lack confidence in present security
and verification procedures.
| CONTRIBUTORS: |
Roope Aaltonen |
| LAST UPDATED: |
10 Apr 2003
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