OneSpan Introduces Trust Vault to Safeguard Digital Agreement Provenance
OneSpan, the digital agreements security company listed on NASDAQ as OSPN, has unveiled an innovative addition to its renowned e-signature solution, OneSpan Sign. This new offering, known as Trust Vault, empowers organizations with a more robust means to protect the origin and integrity of digital documents in the face of evolving security threats. Trust Vault, a recent inclusion in OneSpan’s product lineup, leverages blockchain technology to establish immutable storage, ensuring the long-term viability and integrity of documents throughout their lifecycle.
In light of recent technological advancements related to artificial intelligence and the emergence of quantum computing, it has become increasingly evident that the integrity of digital agreements is vulnerable to various threats, including data loss, manipulation, identity and asset theft, and potential legal repercussions for organizations. Existing e-signature and cloud storage solutions are ill-equipped to guarantee the authenticity of documents over extended periods. OneSpan’s Trust Vault bridges this gap by blending traditional digital signatures with blockchain technology to create quantum-safe proofs, thereby establishing the origin date and integrity of digital agreements without reliance on private keys that could be compromised. Trust Vault is at the forefront in delivering a solution that can provide enduring evidence of the authenticity of valuable agreements and transactions.
Ensuring Document Authenticity in the Age of Quantum Computing
Matthew Moynahan, President and CEO of OneSpan, emphasized the critical importance of securing digital transactions in the impending era of quantum computing. He noted, “As we head towards the impending era of quantum computing, the foundation of any business will be dependent on the legitimacy and authenticity of digital transactions. As contracts evolve from document-based to whatever future form they take, any binding agreement must be secure and stand up in a court of law.” Moynahan’s statement underscores the significance of OneSpan’s Trust Vault as an innovative response to emerging customer needs in ensuring the security and compliance of digital agreements and transactions.
A Quantum-Safe Blockchain Solution for Long-term Evidence
Trust Vault, founded on blockchain technology, offers a decentralized digital storage solution that extends trust beyond OneSpan itself. This functionality serves a wide range of industries, assisting organizations in meeting compliance, regulatory, and chain of custody requirements for documents demanding heightened layers of protection.
Trust Vault distinguishes itself through several key features and advantages, including:
Irrefutable Origin Date: This feature provides a precise date of origin for a document, eliminating doubts about its authenticity and age. This is especially crucial for legal, financial, and regulatory purposes.
End-to-End Audit Trail: Every user action in a transaction is meticulously tracked and readily accessible through the platform, ensuring regulatory compliance and demonstrating transparency and accountability.
Robust Tamper Detection and Prevention: Organizations can have confidence in maintaining document integrity, as any attempts at tampering are swiftly identified, ensuring the accuracy and reliability of valuable documents.
Automated Workflows: Embedding every step in the signing and storage process within the workflow reduces human error and saves time, enhancing operational efficiency.
Earlier this year, OneSpan’s acquisition of ProvenDB expanded its digital agreement offerings, enhancing secure storage capabilities through blockchain technology. With the introduction of Trust Vault, OneSpan showcases its first capability employing blockchain for documents that require the highest levels of assurance.
Christian Hasker, Chief Marketing Officer at Swirlds Labs, a long-time partner of ProvenDB and a user of Trust Vault, expressed enthusiasm for the integration of Trust Vault into OneSpan’s portfolio. He emphasized the increasing challenges posed by AI, quantum computing, and other emerging technologies to the trustworthiness of digital information, including digital agreements. Hasker sees OneSpan Sign combined with Trust Vault as setting a new industry standard for individuals and enterprises relying on the long-term viability and integrity of digital agreements and e-signatures.