Shamsh Hadi, CEO of ZorroSign, Inc. touted the benefits of blockchain in safeguarding consumer data in testimony he submitted to a U.S. Senate committee earlier this month. “The thoughtful and intentional employment of blockchain to safeguard personal data is one way to achieve the dual goal of protecting consumers while at the same time preserving the economic and social benefits of data,” noted Hadi in testimony submitted earlier this month to the U.S. Senate Committee on Commerce, Science & Transportation. ZorroSign is a pioneer of real electronic signature and a patented document fraud and tampering detection system built on blockchain.
On December 4, 2019 the U.S. Senate Committee on Commerce, Science & Transportation held a hearing on legislative proposals to protect consumer data privacy. Mr. Hadi’s written testimony will be part of the committee’s official hearing record. The hearing was held as part of the committee’s ongoing effort to create a national data privacy law. The hearing provided an opportunity for the panel to hear from expert witnesses on ways to refine several legislative proposals that have been introduced in the Congress to create a national data privacy framework.
“Throughout my career in the IT industry, and especially through my work as CEO of a high-tech company that lives and breathes consumer data privacy and security, I have come to learn that blockchain can and should be an essential component to any consumer data privacy and security framework” said Hadi in his testimony. Mr. Hadi pointed to a February 2019 paper on blockchain issued by the National Institute of Standards and Technology (NIST) that concluded that blockchain is “…an ideal candidate to record and secure data exchanges.”
Hadi noted that “blockchain is important because it has unique qualities that set it apart from other transaction database management systems. Specifically, blockchain is being used today in private, permissions-based decentralized systems that are secure, trusted and automated with bank grade security. Ultimately, blockchain technology helps make digital transactions more secure, faster and less expensive.”
Hadi recommended to the committee that any legislation setting national standards for consumer user privacy and data security should set minimum standards for systems, products and services related to Personal Identifiable Information (PII). Hadi noted that, to the greatest degree possible, these systems, products and services should: utilize Digital Security Certificates that never expire; employ blockchain tokenization technology to tamper-seal and verify actual users and authenticate documents and data, without the need for third-party authentication; ensure unbroken chain-of-custody of all consumer personal information and documents; provide a clear audit trail for every transaction that includes consumer personal information and/or documents; use a secure method of digital signatures; employ authentication and user identity verification that does not rely on password-based log-in protocols, but instead employs biometrics or hardware tokens; replace password-based security verification with proof of identity via uniquely identifiable methods such as knowledge-based authentication, one-time password generator, trusted device, hardware token, or the user’s biometric signature.
“Any federal framework on data privacy that does not include the above requirements and recommendations would fall short of what is needed to fully protect consumer data and ensure the integrity of digital transactions — both in the public and private sectors,” concluded Hadi.
To read the full testimony, please visit: http://www.zorrosign.com/wp-content/uploads/2019/12/Testimony-Shamsh-Hadi-Senate-Commerce-Committee.pdf.
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ZorroSign, Inc. is the pioneer of electronic signature technology and the developer of ZorroSign DTM, a unified platform, a complete Electronic Signature and Digital Transaction Management solution. ZorroSign’s unique Document (patent pending) 4n6 (forensics) technology offers post-execution fraud detection and verification and authentication of electronic signatures and documents using blockchain tokenization.
ZorroSign DTM streamlines end-to-end digital transactions with its bank-grade security and by using its core technology including real eSignature, electronic document security, enterprise-grade workflows, intelligent forms, document management system, and intelligent forms that use Machine Learning and Artificial Intelligence.
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ZorroSign, ZorroFill, ZorroSign (patent pending) 4n6 Token, JustZSign, are registered trademarks of ZorroSign, Inc. and/or its affiliates. All other trademarked names or terms used in this document are the property of their respective owners.
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