In the past decade, we’ve smashed barriers in the international legal community for eSignatures and digital transaction management. Despite the recent NSA allegations and culture of uncertainty regarding the safety and sanctity of our data, the upcoming year forecasts a momentous opportunity to set the standards for security and privacy.
Since the June 2000 ratification of the Electronic Signatures in Global and National Commerce Act, I’ve seen a steady demystification of eSignatures and Digital Transaction Management within the legal community. Indeed, a set of recent game changers will influence the current and future trends of compliance and regulation measures. We’re forging an international convergence of acceptance with the recent Federal Housing Administration Office of Single Family Housing’s green light on electronic signatures for mortgage loan documents, as well as the upcoming new regulations in electronic signatures and authentication in the European Union.
It’s not about “if” anymore, it’s about “how.”
The conversation now shifts away from the feasibility of eSignatures and onto the best practices and standards to ensure digital transactions maintain legal compliance and safeguard consumers. Many opportunities lie ahead, particularly with the ubiquity of mobile devices and the increasing recognition by government agencies that the shift away from paper is real and irreversible. For example, as users comb through disclosures on tiny screens, how can we find a way to create a safe harbor for circulating and approving sensitive materials? Continuing on a note of opportunity, the technology legal community carved out two main objectives under the umbrella of strengthened compliance measures.
Cleaner Compliance – Create compliance measures that lock down configurations specific to industry regulations that encourage government agencies to safely adopt a fully digital work management system
Consumer Protection for Mobile Devices – The goal to hammer our supportive legal measures that assure institutions, such as national banks, that digital transactions are working in favor of consumer choice and protection.
However, the loudest and strongest trend has been the exercise of our voice. We’ve sounded off our concerns to which the tech legal community as well as myself have taken careful note. Please join me at DocuSign Momentum 2014 and help influence the conversation. In the meantime, I encourage you to check out some top thought leaders to inspire your own thoughts. I look forward to meeting you soon!
Top 5 Tech Law Blogs
- Legal Blog Watch Blog
- American Bar Association Science & Technology
- National Institute of Standards and Technology
- Electronic Signature & Records Association
- Berkman Center for Internet and Society at Harvard University
Top 10 Twitter Handles