Blockchain
Signd® Launches as Next-generation Multilingual, Trusted E-Signature App for Emerging Markets
Signd launches in India as the world’s first cloud software; blending CRM Contacts, Multilingual Digital Signing and embedded Web/Video Conferencing, all offered under one seamless cloud. The deal signing, the video recording evidence and signed documents are all stored under a tamper proof blockchain that can be retrieved on demand.
E-signatures relatively new in India and emerging markets, are expected to gain rapid adoption with COVID-19 and beyond. Legacy e-signs today are standalone, do not support local languages, operate the same way using email sends and rapid signer clicks with mild attention to details. This can create higher chances of both compliance and understanding issues for customers, especially for high value transactions.
With COVID-19 and ensuing remoteness, there is a parallel demand for multilingual signing, faster and trusted business collaborations to accelerate commerce. Lastly the human touch with face to face deal making and handshakes are lost during COVID-19, that needs to be restored now with a remote web conferencing.
Signd offers SOC 2 compliant global digital signatures on Desktop and Mobile. It will also support Govt of India issued e-Mudhra® certification for Income Tax, MCA (ROC), Tenders, Foreign Trade, Banking, Railways etc. under the Information Technology Act; well as a rich API solution to scale any commerce for accelerating trusted transactions.
The trusted records are archived and retrieved anytime by participants along with a detailed audit trail. Signing Participants can be authenticated using multi factor authentication to prevent identity thefts. The digital signatures are applied to the entire document and video signing ceremony combined. Hence neither can be tampered after signing; thus, creating a long term trusted enterprise repository of documents, participants and signing. Today these processes are run as individual business process silos.
Signd offers a wide array of branded benefits like multi domain, multi-party, multiple doc signing using simple to complex workflows, in person signing, user created templates, native forms creation, advanced authentication, smart contracts embedding payment gateways like Stripe®, PayU® – for converging signing and payment collections.
First release of Signd is planned with integration to Zoom® as well as using newly developed embedded web conferencing with end to end encryption, to create trusted document and video signing evidence. Future versions should add other commercial web conference vendors. Signd has CRM Integration built today with Salesforce® , Zoho® with upcoming roadmap to Freshworks® ; ERP platforms like SAP®, Xero® and Tally®.
Signd currently supports English, Hindi with expansion list to add other languages like Gujarati, Marathi and Tamil. Upcoming versions are expected to support remote online notarization and Digital Stamping.
Signd fills in a huge void in global emerging markets including India, where demand for online collaboration is sky high due to COVID-19 and no cost effective multilingual solutions exists today that can support global and local commerce with all elements of contacts, digital signing and web conferencing all in one. Signd supports leading Digital Signing Certificate Authorities outside India enabling Indian enterprises to use it globally, unlike other local grown apps that can only operate in India.
Signd intends to offer this new technology to other emerging markets in compliance with regional Information Technology Acts regulating Digital Signing.
“We all live amidst uncertainty and chaos with the new pandemic using old mechanical legacy e-signs,” said Subrao Shenoy, CEO/MD of TrSoft Technologies Pvt Ltd. “Signd offers business convergence with human touch by adding face-to-face trusted deal making that we lost during COVID-19. Enterprises in India can now incorporate high client video touch for deal signing, compliance and trust within India and abroad.”
Blockchain
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Blockchain
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Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
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