25 Jul 2024

At the moment, blockchain technology is one of the most popular and exciting technologies. Although most people know the term, they don't fully understand what it means. After understanding the features of blockchain technology, you will have a clear idea of what blockchain is.

• Increased Capacity: Blockchain technology is remarkable for increasing the capacity of the whole network. Many computers working together offer more power than a few centralized devices. This is great for e signature solutions as it provides trusted transparent documents.


• Better Security: The lack of a single point of failure makes blockchain technology more secure than its contemporaries. As blockchains are distributed throughout a network of nodes, the integrity of the original data is never compromised, even if one node fails or is hacked. This makes e signature solutions more reliable for document verification.


• Immutability: Blockchain is based on the concept of creating immutable ledgers. Since a centralized database relies on some third-party intermediary to ensure its security, it is prone to hacks and frauds. Using VeriDoc Sign you can be ensured that when users e sign a document they will always be verifiable.


• Faster Settlement: Banks are notoriously slow due to the lengthy settlement process, which usually takes days. This is why these banking institutions must upgrade their banking systems. Blockchain can solve this problem by settling money transfers at super-fast speeds. Ultimately, this saves time and money for these institutions and provides convenience to consumers.