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Why does the Mochadocs Signing Hub provide an auditable record?

 

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Mochadocs - Contract Signing - Specific Info V2

 

 

Digital signatures are a type of electronic signature that is used to verify the authenticity and integrity of a digital message or contract. Mochadocs provides an auditable record because we allow users to verify the identity of the signer and ensure that the signed contract has not been altered in any way since it was signed.

 

 

Unique signature for each contract

One of the key benefits of digital signatures is that we or our digital signature partners use cryptographic techniques to create a unique, unforgeable signature for each contract. This means that the signature cannot be copied or forged, which makes it much more difficult for an attacker to impersonate the signer or tamper with the signed contract.

 

When a digital signature is applied to a document, a mathematical algorithm is used to generate a unique digital code, known as a hash, that is based on the contents of the document. This hash is then encrypted using the private key of the signer, creating the digital signature.

 

 

Time and date stamp

The digital signature is then attached to the contract, along with the signer's public key and other information, such as the time and date of the signing. This allows anyone who receives the signed contract to verify the authenticity of the signature using the signer's public key.

 

 

Decryption

When a recipient receives a signed contract, they can use the signer's public key to decrypt the digital signature and compare the resulting hash with a new hash that they generate based on the contents of the contract. If the two hashes match, it means that the contract has not been altered since it was signed and the signature is valid.

 

 

The history of the contract

In addition to providing proof of authenticity and integrity, digital signatures also provide an auditable record because Mochadocs creates a tamper-evident trail that can be used to trace the history of the signed contract. This is because the digital signature includes information about the signer and the time and date of the signing, which can be used to track who signed the contract and when.

 

For example, if a signed contract is later modified, the digital signature will no longer be valid because the hash of the modified contract will not match the hash that was encrypted in the signature. This means that any attempt to tamper with the contract can be detected, and the history of the contract can be easily traced to determine who made the changes and when.

 

 

Summary

Digital signatures provide an auditable record because Mochadocs allow users to verify the authenticity and integrity of a digital contract, and Mochadocs create a tamper-evident trail that can be used to trace the history of the contract. This makes Mochadocs a valuable tool for ensuring the security and integrity of electronic communications and transactions.

 

 

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written by

Rob Postma

Mochadocs Customer Success

 

 

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