DocuSign (DOCU), an electronics signature technology that offers management services for digital transactions has integrated with the Ethereum (ETH) blockchain platform recently. The announcement says that 400,000 plus customers of the San-Francisco-based company including major businesses and law firms can access the ETH platform after this integration.
DocuSign electronics signature technology to provide ETH blockchain option
These customers will have the option to choose a DocuSigned agreement automatically written to the ETH blockchain. The option will be available to the native system of DocuSign to verify the signatures and is the ideal way for the customers who wish for a proof declaring their agreement’s existence in the neutral ecosystem.
According to DocuSign chief product officer, Ron Hirson, “For customers that opt-in, DocuSign will compute a one-way cryptographic hash fingerprint for every completed transaction, and write the value to the Ethereum blockchain — the most popular blockchain for smart contracts in our view.” The hash acts serve as evidence for the transaction conducted and is a sort of confirmation of any complete document validated independently. Importantly, due to its integration on the Ethereum blockchain, anyone can access the third party evidence desirous of making transactions.
Innovations and DocuSign’s electronics signature technology go hand-in-hand. Prior to integrating with the ETH blockchain platform, the company collaborated with Visa (V) to form the first public prototypes. In this way, DocuSign always encouraged and tried to lead the smart contract research and aims to further continue its innovation in this space.
The American company is now also a member of the Enterprise Ethereum Alliance. At present, the market cap of Ethereum is $20.6 billion which is the second largest virtual currency listed on AlDex 100 Index (ALT100).
DocuSign sales to reach $175 million
According to Wall Street brokerages, the sales of company offering electronics signature technology services will reach $175 million for the third quarter. DocuSign will announce its next quarterly earnings in December this year. Estimates made by four analysts’ states that the earnings for DocuSign will range in between $173.39 million and $178.37 million. With its recent tie-up with the Ethereum blockchain platform, the sales figure may show a slight deviation.