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19/07/2001
DIGITAL SIGNATURES SET TO REPLACE TRADITIONAL METHOD
A NEW European law that effectively means electronic signatures are now as legally binding as handwritten ones has come into effect.
The European Commission directive, which all 15 member states of the European Union have agreed upon, legally recognises the digital signature for the first time.
Similar legislation has already been in place in the United States for about nine months and many firms in Europe were already using digital signatures despite the fact that the European law only came into effect on Thursday 19 July.
Signatures can be used for signing contracts on email and are hoped to speed up business transactions and make the art of conducting transatlantic business much more accessible.
Nevertheless, security remains the biggest worry for businesses that hope to use the time saving tool. According to some experts fears over security are the biggest obstacle to the growth of e-commerce. However other experts say that is more difficult to forge an electronic signature than a handwritten one. (AMcE)
The European Commission directive, which all 15 member states of the European Union have agreed upon, legally recognises the digital signature for the first time.
Similar legislation has already been in place in the United States for about nine months and many firms in Europe were already using digital signatures despite the fact that the European law only came into effect on Thursday 19 July.
Signatures can be used for signing contracts on email and are hoped to speed up business transactions and make the art of conducting transatlantic business much more accessible.
Nevertheless, security remains the biggest worry for businesses that hope to use the time saving tool. According to some experts fears over security are the biggest obstacle to the growth of e-commerce. However other experts say that is more difficult to forge an electronic signature than a handwritten one. (AMcE)
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