Something new I’m going to begin doing on this blog is giving away my business ideas. Sure you might steal them, in fact, I hope you do. So here is my latest idea that I really would like to see flourish.
I’m giving away these ideas because they’re great ideas (at least I think so) but outside of my sphere of competence. My hope in giving these ideas out is that someone out there with a different skill set than I will take the idea and make it into something. All I ask for in exchange, is a chance to invest in you.
So here is the idea.
With the advent of the computer and emails we saw “e-signing” become popular. Many companies have flourished, namely, DocuSign. Then we had the tablet movement. Now you can actually write on the screen. I used a Adobe, a Jot Script Adonit Stylus, and my iPad to sign as many documents as possible at AEI Group.
In the old days (a couple years ago), I’d have to print out a document, sign it, scan it, then attach it as an email. Then finally I was able to open an email on my iPad, open the attachment, sign with my stylus, save it, and send back. This cut down on wasted paper, ink, an especially time.
If this sounds like a dream come true to you, I Tweeted out a link recently to an article about the 5 best softwares for doing this.
Unfortunately, many institutions would not accept a signature of this nature. In my opinion, writing with a stylus to create an image on a computer is just a good as signing with an ink pen, then turning it into an image with my scanner. But I geek out on technology and most attorneys don’t, so I understand the disconnect in understanding.
The biggest argument for the lack of growth in the e-sign industry is authenticity and security. They argue that the e-signatures of DocuSign are not authentic. To be honest, the one they assign me looks nothing like my actual signature.
The other argument is that there is no real way to verify that you’re the person signing. My signature is very unique by design and hard to replicate. This adds security for banks and other institutions that rely on that uniqueness for security. This is why the stylus method worked well for me.
So what we must do is make e-signatures both secure and verifiable. This means to me that we should sign with a stylus so the uniqueness of our signature can come through. But then we should have that also notarized.
Here in is finally the idea. With biometrics coming along as quickly as they are, such as on the iPhone 6. Can we please start accepting fingerprints as signatures or at least as a two step verification to e-signatures. And if authenticity is really a concern, let’s digitize the notary industry. This being done. My favorite right now is NotaryCam. You can back them here on AngelList. The only issue I have is that you have to upload the document to their server and allow access to your webcam. I don’t know the details on how they verify your identity.
My idea is a notary service that has your fingerprint on file. You open the doc in their app on your iPhone or iPad. You sign with a stylus and provide verification that it is you signing by providing your fingerprint. They match the fingerprint in their database and notarize the document electronically instantly. The notarized document is then ready to be sent via email or printed.
Now, if anyone can marry e-signing with virtual notary and biometrics, please do it. And email me as soon as you need funding.