A signature on a document is a mark of verification and authentication by the person who has signed it. The stamp would act as a sign of verification in earlier times, and soon it got replaced with physical signatures.
With the advent of technology, digital signatures are increasingly taking the place of the physical signature. With everything becoming digital, from identity card documents to filling college forms, digital signatures are a wiser, more comfortable, and safer mode.
Digital signatures can be divided into three classes, Class 1, Class 2, and Class 3. The point of difference between all three of them is connected to specific security features available with each of them.
Class 1 digital signatures provide a necessary security and assurance level in a situation where there may lie a risk of data compromise. In contrast, Class 3 digital signatures provide security to situations where there is a higher tendency or risk of date compromise than Class 1.
Class 2 digital signatures are used in cases where a transaction involves a substantial amount of money or when maintaining a document’s confidentiality is of primary concern.
Class 3 digital signatures provide security and assurance in situations where there lies a very high risk of data compromise, and the consequences, if proper protection isn’t offered, is quite fatal.
Like Class 3 digital signatures, it is used in situations involving transactions of a substantial amount or lowering the risk of fraud and forgery in cases of confidentiality of documents.
Importance of Class 2 Digital Signatures for Business Privacy
This article will focus on the importance of class 3 digital signatures in maintaining business privacy. Class 3 signatures are issued for both individuals and business personnel.
As mentioned above, they are used in situations where there lies a moderate risk of data getting compromised, such as transactions of high value or maintaining official documents’ confidentiality and privacy.
Businesses share many official papers that involve very confidential matters and demand a high level of security and confidentiality. Today, most business houses use Class 2 and Class 3 digital signatures to ensure that such documents remain safe.
- Security and Authenticity of Official and Unofficial Documents
It is very easy to fall prey to hackers and emails getting phished and hacked in today’s time. Many of such emails contain documents that are very confidential and contain sensitive data.
In the past, so many well-known big companies have fallen prey to such attacks, which has led to every business firm, whether small or big, to ensure a premium level security.
Class 3 digital signatures provide safeguards to such documents and emails and increase trust among the business companies.
Moreover, the Class 3 signatures also reduce the risk of duplication and alteration of documents, rampantly taking place otherwise. The signers are given with PINs, passwords, and codes to confirm and verify their signatures.
The e-signature also includes a time stamping feature, which provides the date and time of the signature, which helps track the document and further reduces the risk of commission of any fraud or tampering.
- The integrity of Data Maintained
Any document that has been digitally signed with a Class 3 digital signature cannot be edited in any way, thereby maintaining the data’s integrity.
With businesses going globally and in collaborations and tie-ups, it is essential to ensure such documents’ data integrity and security. Digital signatures are recognized and accepted globally; hence, businesses worldwide accept digital signatures on documents as they provide protection and maintain data integrity.
Since E-signatures are time-stamped, hence they are admissible in the court of law as any other document in the form of evidence or proof.
- Turnaround and Convenience
Class 2 digital signatures ensure a quick turnaround for companies, otherwise essential and confidential documents get exchanged through multiple hands, thereby putting a question on the privacy and security of such records.
In the case of a digitally signed document, the document gets authenticated and verified just with a button’s click.
Hence, not only does it ensure a quick turnaround, but it also maintains the privacy and security of the documents. Moreover, it causes less hassle to businesses, particularly start-ups.
It is imperative to adapt to changing times to walk on the path of success. Businesses should step out of the old system of physical signatures and instead get their documents digitally signed. It is more convenient and safer and ensures a high level of security and data integrity.