Unsecured digital e-signatures may expose companies and their operations to various cyber threats that have become more prevalent amid the COVID-19 pandemic.
The pandemic has pushed most businesses to work remotely with the adoption of digital tools and habits, pointed out Alejandro Mañalac, DocOnChain’s ambassador for Philippine real estate (shown in photo). Major companies including real estate developers now enable online transactions and accept digital signatures even for very sensitive sales documents.
“But company executives do not realize the danger of having their unsecured digital e-signatures that can just be easily copied, pasted, and used by unscrupulous individuals,” Manalac explained. “Using a US company for e-signature also creates a problem for the privacy of your sensitive contracts or agreements,” he said.
Cyber attacks, data theft on the rise
Companies have recently seen a spike in their expenses and demand for virtual meeting, cloud storage, electronic signature and collaborative solutions. While these tools have been widely adopted to make work more efficient, it comes at a price–explosion of ransomwares, cyber-attacks, counterfeit documents, identity and data theft at a global loss of $5 trillion in 2020 with an expected increase of 15% per year.
Doconchain recently developed the necessary tools for businesses using blockchain and NFTs secured solutions to protect documents against hacks and counterfeits while preserving your privacy at affordable costs.
“People do not realize the importance of securing valuable signatures and documents until they become victims of forgeries or falsification of documents,” said Manalac. “With Doconchain Signatures NFT managed, user signatures are recorded as unique fingerprints with timestamp into the document which can’t be copied or forged,” he claimed.
Following the audit trail
Documents are then fragmented, duplicated, and encrypted into several blockchain storage locations. The ‘nodes’ are stored in your system (cloud or on premise) to be fully protected against cyberattacks and for a high level of security and privacy, said Manalac. “With simple steps, the documents can then be tracked with its Passport which includes an audit trail with events blockchain recorded and verifiable elements.”
DocOnChain recently conducted a Document Security Awareness webinar. For more information, email [email protected]