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Are Digital Signatures in Blockchain Functionally Equivalent to Handwritten Signatures?

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Computational Science and Its Applications – ICCSA 2023 Workshops (ICCSA 2023)

Part of the book series: Lecture Notes in Computer Science ((LNCS,volume 14104))

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Abstract

Digital signatures have different uses in a digital world, providing both identification of users and ensuring legal enforceability of digitally signed documents, making them legally binding for the signatories. Purpose of this paper is to review legal aspects of electronic signature application in modern technologies such as on-line banking, DLT and digital lending. As the latter are already well-researched, we use the case of online lending as an illustrative example, yet all conclusions and findings are equally valid for digitally signed transactions and blocks in DLT, for transactions in on-line banking and for many other cases. We look at the challenges presented by the remote conclusion of loan contracts and whether they can be addressed by the usage of electronic signatures. The focus of the research is whether there are technological of procedural solutions that can be used to ensure functional equivalence of electronic and handwritten signatures. The findings may provide grounds for further research of DLT application in electronic signature sphere.

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Notes

  1. 1.

    Adapted from [11].

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Author information

Authors and Affiliations

  1. Department of Financial Markets and Banks, Financial University Under the Government of the Russian Federation, 49 Leningradsky Prospekt, Moscow, 125993, Russia

    Victor Dostov & Svetlana Krivoruchko

  2. Modern Financial Technology Laboratory of St Petersburg University, Saint Petersburg State University, 199034, St. Petersburg, Russia

    Victor Dostov & Victor Titov

  3. Russian Electronic Money and Remittance Association, Novoslobodskaya ul., 20, of. 25/A5ϕ, Moscow, 127030, Russia

    Pavel Shust

Authors
  1. Victor Dostov
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  2. Svetlana Krivoruchko
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  3. Pavel Shust
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  4. Victor Titov
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Corresponding author

Correspondence to Pavel Shust .

Editor information

Editors and Affiliations

  1. University of Perugia, Perugia, Italy

    Osvaldo Gervasi

  2. University of Basilicata, Potenza, Italy

    Beniamino Murgante

  3. University of Minho, Braga, Portugal

    Ana Maria A. C. Rocha

  4. University of Cagliari, Cagliari, Italy

    Chiara Garau

  5. University of Basilicata, Potenza, Italy

    Francesco Scorza

  6. University of Massachusetts Medical School, Worcester, MA, USA

    Yeliz Karaca

  7. Polytechnic University of Bari, Bari, Italy

    Carmelo M. Torre

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Dostov, V., Krivoruchko, S., Shust, P., Titov, V. (2023). Are Digital Signatures in Blockchain Functionally Equivalent to Handwritten Signatures?. In: Gervasi, O., et al. Computational Science and Its Applications – ICCSA 2023 Workshops. ICCSA 2023. Lecture Notes in Computer Science, vol 14104. Springer, Cham. https://doi.org/10.1007/978-3-031-37105-9_35

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  • DOI: https://doi.org/10.1007/978-3-031-37105-9_35

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-031-37104-2

  • Online ISBN: 978-3-031-37105-9

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