What is eSign, eSignature and Electronic Signatures and how does it work
What is the benefits and what is electronic signatures?
An electronic signature, or e-signature, is data that is logically associated with other data and which is used by the signatory to sign the associated data. It is a legal concept that is distinct from digital signatures, which are a cryptographic mechanism often used to implement electronic signatures. Electronic signatures can be as simple as a name entered in an electronic document, but digital signatures are increasingly used in e-commerce and other applications. Electronic authentication is the process of establishing confidence in user identities electronically presented to an information system. When used in conjunction with an electronic signature, electronic authentication can reduce the risk of fraud and identity theft by verifying that a person is who they say they are. There are significant benefits to having notarizations done electronically, such as cost savings, superior security, authenticity, audit trails, and document integrity.
Sources:
https://en.wikipedia.org/wiki/Electronic_signature
https://en.wikipedia.org/wiki/Digital_signature
https://en.wikipedia.org/wiki/Electronic_authentication
https://en.wikipedia.org/wiki/ENotary
How do electronic signatures work?
Electronic signatures work by associating data with other data that is used by the signatory to sign the associated data. This type of signature has the same legal standing as a handwritten signature as long as it adheres to the requirements of the specific regulation under which it was created. Electronic signatures are a legal concept distinct from digital signatures, which are a cryptographic mechanism often used to implement electronic signatures. Digital signatures are often used to implement electronic signatures, which includes any electronic data that carries the intent of a signature, but not all electronic signatures use digital signatures. When used in conjunction with electronic authentication, electronic signatures can reduce the risk of fraud and identity theft by verifying that a person is who they say they are. Electronic signatures can provide added assurances of the evidence to provenance, identity, and status of an electronic document as well as acknowledging informed consent and approval by a signatory.
Sources:
https://en.wikipedia.org/wiki/Electronic_signature
https://en.wikipedia.org/wiki/Digital_signature
https://en.wikipedia.org/wiki/Talk%3ADigital_signature
What is the difference between an electronic signature and a digital signature?
An electronic signature is a broader term that refers to any electronic data that holds the meaning of a signature, while a digital signature is a cryptographic mechanism often used to implement electronic signatures. Digital signatures are a mathematical scheme for verifying the authenticity of digital messages or documents. A valid digital signature gives a recipient very high confidence that the message was created by a known sender and that the message was not altered in transit. Digital signatures are often used to implement electronic signatures, but not all electronic signatures use digital signatures. Electronic signatures can be as simple as a name entered in an electronic document, while digital signatures are more complex and require the use of a private key to sign the document. Digital signatures are more secure than electronic signatures because they use encryption to verify the authenticity of the signature.
Sources:
https://en.wikipedia.org/wiki/Digital_signature
What is the legal effect of electronic signatures in the European Union (EU)?
In the European Union, electronic signatures have legal effect and admissibility as evidence in legal proceedings, as long as they adhere to the requirements of the specific regulation under which they were created.
Sources:
https://en.wikipedia.org/wiki/Qualified_electronic_signature
https://en.wikipedia.org/wiki/Advanced_electronic_signature
https://en.wikipedia.org/wiki/Electronic_Signatures_Directive
