Swiss University ZHAW and Swisscom Launches E-Signature

Swiss University ZHAW and Swisscom Launches E-Signature

Smart contracts are on fire. Following the Italian Senate’s move to approve smart contracts and digital validation, Switzerland telecom company Swisscom and Swiss University ZHAW developed e-Signatures, according to financial news outlet Cash.

An interdisciplinary team of lawyers and engineers from ZHAW worked with Swisscom to build a prototype for an Ethereum-based smart contract platform that can control assets transfers.

As a matter of framework, a qualified electronic signature is needed to validate e-documents instead of the handwritten signature, something that was not possible previously and it prevented secure transactions with blockchain technology.

In this line, smart contracts replace signatures. “This is particularly important for Switzerland,” Professor Harald Bärtschi said, “as we have a mandatory written form for the transfer of claims and similar rights, and so far it has often been doubtful whether transfers on blockchain are legally binding.”

“The solution combines the advantages of the decentralised blockchain infrastructure with the high security and trustworthiness of the certified signature,” Bärtschi added.

Smart contracts are in the spotlight these days as governments and private companies are looking for blockchain validations and implementations for legal transactions.

As the Cash article said, “signatures are not only supported in accordance with Swiss requirements, but also according to the eIDAS Regulation of the European Union. “This opens up a multitude of international applications,” Peter Amrhyn was quoted by Swisscom in the statement.

Last week, the Italian Senate proposed a change of rule to allow “the use of smart contracts for legal effects and electronic time validation referred in the European regulation number 910/2014,” as reported by Cryptimi.

Register for Latest Updates & News

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

Blockchain,Cryptocurrency,Ethereum,Technology

Haru Invest – the Ideal Platform to Get in Touch with Crypto

Smart contracts are on fire. Following the Italian Senate’s move to approve smart contracts and digital validation, Switzerland telecom company Swisscom and Swiss University ZHAW developed e-Signatures, according to financial news outlet Cash. An interdisciplinary team of lawyers and engineers from ZHAW worked with Swisscom to build a prototype for an Ethereum-based smart contract platform […]

22 March, 2022
Blockchain,Cryptocurrency,Ethereum,Technology

XBE Community Launches a $500k Bug Bounty

Smart contracts are on fire. Following the Italian Senate’s move to approve smart contracts and digital validation, Switzerland telecom company Swisscom and Swiss University ZHAW developed e-Signatures, according to financial news outlet Cash. An interdisciplinary team of lawyers and engineers from ZHAW worked with Swisscom to build a prototype for an Ethereum-based smart contract platform […]

28 December, 2021
Blockchain,Cryptocurrency,Ethereum,Technology

11 Biggest Sponsorships Deals for the Crypto Market in 2022

Smart contracts are on fire. Following the Italian Senate’s move to approve smart contracts and digital validation, Switzerland telecom company Swisscom and Swiss University ZHAW developed e-Signatures, according to financial news outlet Cash. An interdisciplinary team of lawyers and engineers from ZHAW worked with Swisscom to build a prototype for an Ethereum-based smart contract platform […]

1 December, 2021
Blockchain,Cryptocurrency,Ethereum,Technology

ChangeNOW Unveils a New Cashback Feature

Smart contracts are on fire. Following the Italian Senate’s move to approve smart contracts and digital validation, Switzerland telecom company Swisscom and Swiss University ZHAW developed e-Signatures, according to financial news outlet Cash. An interdisciplinary team of lawyers and engineers from ZHAW worked with Swisscom to build a prototype for an Ethereum-based smart contract platform […]

15 November, 2021
Blockchain,Cryptocurrency,Ethereum,Technology

Celsius Casino is Raising the Temperatures with a Voluminous Game Lobby

Smart contracts are on fire. Following the Italian Senate’s move to approve smart contracts and digital validation, Switzerland telecom company Swisscom and Swiss University ZHAW developed e-Signatures, according to financial news outlet Cash. An interdisciplinary team of lawyers and engineers from ZHAW worked with Swisscom to build a prototype for an Ethereum-based smart contract platform […]

9 November, 2021
Blockchain,Cryptocurrency,Ethereum,Technology

ChangeNOW Has Announced the Release of its Own Digital Wallet

Smart contracts are on fire. Following the Italian Senate’s move to approve smart contracts and digital validation, Switzerland telecom company Swisscom and Swiss University ZHAW developed e-Signatures, according to financial news outlet Cash. An interdisciplinary team of lawyers and engineers from ZHAW worked with Swisscom to build a prototype for an Ethereum-based smart contract platform […]

29 October, 2021
Blockchain,Cryptocurrency,Ethereum,Technology

BitPanda Enhances Its BEST Rewards Programme

Smart contracts are on fire. Following the Italian Senate’s move to approve smart contracts and digital validation, Switzerland telecom company Swisscom and Swiss University ZHAW developed e-Signatures, according to financial news outlet Cash. An interdisciplinary team of lawyers and engineers from ZHAW worked with Swisscom to build a prototype for an Ethereum-based smart contract platform […]

25 October, 2021
Blockchain,Cryptocurrency,Ethereum,Technology

ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Smart contracts are on fire. Following the Italian Senate’s move to approve smart contracts and digital validation, Switzerland telecom company Swisscom and Swiss University ZHAW developed e-Signatures, according to financial news outlet Cash. An interdisciplinary team of lawyers and engineers from ZHAW worked with Swisscom to build a prototype for an Ethereum-based smart contract platform […]

6 October, 2021