Innovation at the Heart of this First Time in France
Sword Group signed a contract on the Bitcoin blockchain on 13 September 2019. Its counterpart, the company Woleet, signed the same document several days previously.
Content Management by Sword
In France, Sword is a key historic player on the Content Management market and is one of the first system integrators to have implemented electronic signature solutions more than ten years ago.
The traditional electronic signature with probative value is now a practice that is accepted by all. This costly procedure requires paying for the services of a trusted third party, both for the signature and for the archiving of the documents signed. In actual fact, the documents digitally signed are generally limited to documents that are legally supervised by European and French legislation, in other words less than 1% of company documents produced.
Blockchain: A Highly Economical and Reliable Solution
Blockchain enables non-regulated contents to do away with these third parties by instead using the blockchain timestamping, authentication and data immutability functions so as to store the elements of proof of the signature. In a context of massification, cost savings are enormous and can potentially exceed 95%.
A Signature Stored in a Bitcoin Transaction
For this first contract, Sword Group decided to use the Bitcoin blockchain for the security that it provides. Access to the blockchain, management of its keys and the encryption processes were completed using the solutions provided by the French software company Woleet. Proof of the signature is stored in a Bitcoin transaction and was implemented in compliance with the Chainpoint protocol.
The contract signed involved the new partnership for the distribution and integration of electronic signature solutions on the Woleet blockchain by Sword Group.
[extra_contact title=”Want to know more?” name=”Alain Broustail” company=”Referent Blockchain” recipient=”skill-15″ /]