Introduction
In the wake of data theft and more heinous cybercrimes becoming prevalent, it becomes of utmost importance to secure information from security attacks. Techniques like steganography, use of digital signatures, or cryptography can be used to avoid the same. The authentication of information and maintenance of its privacy are the needs of the hour for data security. Digital Signatures are one of the most prominent tools used to resolve this issue. It associates a digital sequence, with an electronic document, that would further represent a handwritten signature[1].
What is a Digital Signature?
A digital signature is an electronic signature that helps in validating the fidelity and virtue of a message[2]. The message could be in any form like an e-mail, a transaction of payment, or any specific digital document. A virtual fingerprint is created by digital signatures, which is concretely restricted to an individual or any entity[3]. The basic use of digital signatures is to clarify that the message sent or received is unique and has not been altered[4]. The digital signatures are more reliable and full proof compared to physical signatures. The physical signatures can easily be forged or falsified while a digital signature uses an algorithm that makes its replication difficult.
The signature ratifies the name of the author, the time and date of the signature provided and also substantiates the content of the message. Digital signatures provide more congenital security and are purposive to settle tampering issues concerning digital communications[5].
How is it implemented?
Digital signatures are based on the following three applications[6]:
Authentication – It verifies the identity of the specific user for vindication.
Integrity – It helps in assuring that a message is canonical, true, and unaltered.
Non-repudiation – It guarantees that the signee cannot deny from the fact that he had earlier signed the document. It becomes binding the time an individual appends an electronic signature for communication.
Digital Signatures are based on the concept of public-key cryptography, which is also referred to as asymmetric cryptography. RSA, a public key algorithm generates two keys linked mathematically. Digital signatures have a computerized mark which peculiarly relies on two advanced keys, which are known as key pair. A key pair embraces a private key and a public key and is associated with a precise key holder[7]. One is a private key and the other one is a public key.
The individual who creates the digital signature exerts his very private key, which helps in encrypting signature related data, and hence, the only option left to decrypt the data is through the signee’s public key[8].
This technology calls for every party to rely on the person who creates the digital signature and is capable of safeguarding his sole private key[9].
The Impact and Use of Digital Signature
The digital signature is enduring a drift of popularity with the advancement of technology and the use of cyberspace. This admiration has broadened the acceptance drive of digital signatures and is being used by more and more professionals as a service for their clients. It has covered the field of banking, financial service institutions, the IT sector, and the educational institutions and health care facilities.
Industries have been using this signature technology to accelerate and ameliorate their document authentication.
The digital signatures play a major role in boosting the operations of enterprises. Earlier, the conventional paperwork used to consume a large amount of time and was also vulnerable to getting misplaced. With the introduction of digital signatures, automated documenting has been popularized, which has made the processing of work smooth and secure.
Narendra Modi, The Prime Minister of India has a vision of ‘Digital India’. Hence, it is time for everyone to adopt and implement digital signatures and also contribute to make India a paperless country[10]. The digital signatures can be accessed anywhere and anytime and also reduce the space for storage[11].
The global use of digital signatures market by the year 2021, will increase to a worth of 2.6 billion dollars, a four-fold increase than that of the year 2019, as stated by a research firm[12]. India has observed a high rise of the acceptance of digital signatures. The central and state governments have already adopted the above-mentioned signature to secure data privacy[13].
The companies which provide a digital signature solution help in integrating blockchain technology with the use of the digital signature. It will offer the users to validate the integrity and also time stamp. The company named DocuSign has already collaborated with Visa for the need of public prototypes through a blockchain-based smart contract[14].
In India, several cabinet ministries have made digital signature a preferred mode of execution. The Reserve Bank of India has allowed finance companies to ratify on the electronic mode of documents[15]. It has further allowed a one-time OTP process for all newborn customers through eKYC[16].
There have been laws identified and amended for the use of electronic documents under the Information Technology Act, 2000.
Digital Signatures Versus Electronic Signatures
It has been observed that the term electronic signature is swapped by digital signatures, however, the truth is that digital signatures are a subset of electronic signatures. Conclusively, all digital signatures are electronic signatures, but all electronic signatures do not fall under the category of digital signatures[17]. The electronic signature is an electronic symbol or gesture which is attached to a message used by the person. The digital signature guarantees this electronic document, and both of them are binding. There is a difference in the usage and purpose of the two.
Conclusion
Digital signatures are an interlink between law and technology, providing smooth and paperless workflow. The conventional method becomes of little use with the introduction of digital signatures. The future is digital signatures and companies have already started collaborating with the same to get their documents signed instantly without any change or data theft. The compromise of security is decreasing with the vast usage of the digital signature. Thus, this global acceptance of digital signatures will provide a quick return on investments and ease of use, along-with less time consumption. This will also decrease the number of cybercrimes concerning documents in electronic form and provide data privacy.
References:
[1] Payal Saha, A comprehensive study on digital signature for internet securityhttps://www.accentsjournals.org/PaperDirectory/Journal/TIS/2016/1/1.pdf [2] CISA, Understanding Digital Signatures ( Dec 17th, 2007) , https://us-cert.cisa.gov/ncas/tips/ST04-018 [3] Ibid [4] Ibid [5] Digital Signature, https://www.javatpoint.com/cyber-security-digital-signature [6] Paula, Why digital Signatures are the future? , https://www.esignly.com/electronic-signature/Compliance/why-digital-signatures-are-the-future.html [7] Ibid [8] Margaret Rousse, Digital Signatures, https://searchsecurity.techtarget.com/definition/digital-signature [9] Ibid [10] V.Srinivasan, Why India absolutely needs digital signature? , http://bwdisrupt.businessworld.in/article/Why-India-Absolutely-Needs-Digital-Signatures/09-06-2017-119837/ [11] Ibid [12] Ibid [13] Ibid [14] Report-linker, Global signatures market report, https://www.globenewswire.com/news-release/2020/07/16/2063546/0/en/Digital-Signature-Global-Market-Report-2020-30-Covid-19-Implications-and-Growth.html [15] Electronic Signatures in India, https://acrobat.adobe.com/content/dam/doc-cloud/en/pdfs/electronic-signatures-in-india-uk.pdf [16] Ibid [17] Ibid
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