Shamsh Hadi, Co-Founder & CEO, ZorroSign
Despite the increased digitization over the past decade, the majority of businesses still rely on wet signatures for authenticating a transaction and a variety of fundamental business tasks. And, the higher the signature requirement, the greater the risk of signature fraud. Furthermore, the risk is only expected to increase as organizations transition from manual to electronic signatures.
Undoubtedly, digital signatures offers greater flexibility in signing along with the benefits of worldwide accessibility, ease of archiving, cost savings on paper storage space, and decreased environmental footprint. However, when it comes to keeping valuable information safe, the idea of going digital does not seem quite promising to many. This is because of the notion that no information online is ever private, and it can be more easily manipulated or even forged. However, a potential technology that looks to put those concerns to rest is blockchain. This decentralized technology helps secure the digital identity over the internet and makes it valid as well as authenticated.
Leveraging the immense potential of blockchain, ZorroSign, Inc. is a pioneering company that is efficiently addressing the challenges related to electronic document safety for major corporations, government organizations, and individuals around the world.
In the 1990s, one of ZorroSign’s co-founders introduced an innovative new technology developed in Sri Lanka for electronic signatures. Government agencies and companies such as American Express, Federated Department Stores, UPS, and thousands more continue to benefit from this technology. The digital signature also served as a key technology component when President Bill Clinton signed the “Millennium Digital Commerce Act” and the “E-SIGN bill” in 2000.
ZorroSign’s Journey of Excellence
The platform that ZorroSign uses was founded in Dubai, UAE in 2015 and developed entirely in Sri Lanka with a vision to provide global customers the ability to securely transform paper-based workflows to digital—decreasing costs, reducing errors, and increasing productivity while positively impacting the environment through sustainable practices.
Initially, the company served government departments in UAE and soon it grew into an international business, helping people to build, sign, store, and track mission-critical documents on the blockchain—in Sri Lanka, India, and the United States. “By using distributed ledger technologies—originally built on Hyperledger Fabric and recently expanded to include the Provenance Blockchain—ZorroSign provides superior privacy and security, offering peace of mind for digital transactions and helping avoid fraud and compliance issues,” says Shamsh Hadi, the CEO, and co-Founder of ZorroSign, Inc.
ZorroSign is constantly adding strategic integrations, and collaborating with prospects and customers, to ensure our multi-chain blockchain platform is easy-to-use and frictionless with other software solutions. ZorroSign users benefit from industry-leading privacy and security compliance with many international standards and regulations.
Committed to Delivering Superior Privacy and Security
ZorroSign uses distributed ledger technologies such as private, permissioned Hyperledger Fabric and public, permissionless Provenance Blockchain to provide elevated privacy and security to digital transaction participants, preventing fraud and ensuring compliance. The company also utilizes web3 technologies to bring together digital signatures, artificial intelligence (AI), and machine learning (ML) for form completion, identity-as-a-service (IDaaS) technologies, and patented fraud prevention, delivering the future of digital transactions to governments, organizations, businesses, and individuals today.
The six key features that make ZorroSign’s platform stand above the rest are Z-Sign, Z-Flow, Z-Verify, Z-Fill, Z-Forensics, and Z-Vault.
The platform’s Z-Sign feature enables users to quickly sign digital documents from any device, anywhere, anytime, with full legal enforceability; while the Z-Flow helps to ensure compliance with internal, regulatory, and security workflows using an automation engine. Z-Verify allows users to verify exactly who signed what and when, plus validate every document’s authenticity and immutability; and the Z-Fill feature makes the documentation form-fill completion process smarter, faster, and more accurate with AI/ML. ZorroSign’s technology also includes Z-Forensics, a patented token for fraud detection, audit trail, and chain-of-custody validation; plus Z-Vault to store signed documents with data and workflow records on the blockchain.
“We leverage disruptive technologies to make our customers’ lives and businesses more secure and private while making our company the international standard for a trusted partner in paperless transactions,” explains Hadi. “We place the needs of our customers first while continuously pursuing excellence in product development and market execution.”
Making a Difference through Sustainable Practices
Too often, we see the environmental costs of new technologies that neglect to consider sustainability and the conservation of natural resources, but ZorroSign set out to advance sustainability while advancing technology.
ZorroSign brings a tamper-proof solution to ensure the privacy and security of digital documents with an immutable audit trail and chain of custody for digital transactions. “Every time someone uses ZorroSign to digitally sign agreements, contracts, and other documents—instead of printing, faxing, scanning, and couriering documents to collect signatures—we all save trees, save water, and reduce carbon emissions. And we help our customers make a difference through sustainable practices,” says Mr. Hadi.
“Our customers across government, business, or individual users, all aspire to employ the latest technology while being committed to sustainability and the conservation of our shared natural resources. This unique pairing makes them forward-thinking and responsible, seeking early-mover advantages in their markets, while also championing corporate social responsibility (CSR) and aspiring values for their owners, employees, and customers,” he adds.
ZorroSign meets both needs of its customers and will continue to bring innovative technologies with a commitment to sustainability to governments, companies, and people “going green” with digital operations in Sri Lanka and all over the world.
Values That Influence ZorroSign’s Success
ZorroSign’s mission is to unleash the potential of blockchain technology to provide easy-to-use and legally compliant lifetime security and privacy for digital signatures, documents, and transactions. The company is dedicated to providing its customers with the world’s most secure and trusted technology platform in their transformation to a paperless life.
As a strategic step towards this goal, the company plans to make a difference by planting trees, reducing water consumption, and decreasing the carbon footprint. Leveraging the power of disruptive technology, they strive to make their customers’ lives and businesses more secure and private. Being a customer-centric company, they place the needs of their customers above all while continuously pursuing excellence in product development and market execution.
Along with customer satisfaction, empowering work culture is equally important for ZorroSign. Thus, the company focuses on attracting the world’s best talent available and always encourages teamwork, collaboration, and a spirit of innovation to solve businesses’ toughest problems while promoting ZorroSign’s core principles and values.
Supporting Organizations in Paperless Transformation
ZorroSign acknowledges that modern society has been moving to a paperless economy, and in the future, digital transactions and workflows will be immensely important. The company intends to support that transformation by bringing peace of mind, and confidence in the security of these transactions and workflows through their platform.
By adding Provenance Blockchain in early 2022, ZorroSign’s platform further promotes greater transparency and liquidity for financial service providers, as well as new types of financial engineering and business opportunities. Provenance Blockchain eliminates the need for third-party intermediation, drastically lowering costs and freeing up capital in financial transactions. “Such benefits readily map to healthcare services, IT services, legal services, and real estate transactions where we hope to further advance our technology while also advancing sustainability efforts for those industries,” concludes Mr. Hadi.