**Blockchain Discontinued **
As part of growing up, we have reviewed our use of the Ethereum Blockchain, and found that after 3 years in production, 2Shakes’ use of Blockchain is no longer needed.
We found that 2Shakes as a company, together with the storage, security and privacy of data on Microsoft’s Azure data centres is more than necessary for our customers, which is great, and reflects the maturity we have reached.
What does this mean? We will be turning off the blockchain hashing of Agreements on 30 November. We will continue to support all agreements previously hashed. If you have any queries on this, please ask. And remember, this only relates to Sign Up agreements, not AML Only.
2Shakes Historical Blockchain Use
2Shakes secures signed agreements on the blockchain to provide additional security. Blockchain is new type of technology that many predict will change the world. If you are on a 2Shakes paid account then guess what, you are using Blockchain! But what really is Blockchain and why should you (or your customers) care?
When clients complete e-signing agreements, 2Shakes automatically puts a fingerprint (HASH) of the PDF document into a block on the Etherium blockchain. Blockchains store blocks of information in chains, layered on top of each other and locked in place. Once locked the information can not be altered. No one can cheat this system by editing it, because it is shared with many people to make sure everyone agrees it hasn’t changed. It means that you and your customers can be certain that the signed agreement exists. You and everyone else can be sure, really sure!
Blockchain Security – Its your Insurance!
This means that the information on a blockchain is non-repudiable. You can think of it as insurance to provide that the agreement was signed and in place. If you are ever audited or legally need to provide proof of the agreement, the T&C the authority wording anything on the agreement you can. Its stored forever stored, on the Etherium blockchain, and available independently of 2Shakes.
Agreements are saved on the blockchain for VALUE 250 and PREMIUM 1000 accounts. This option is not available on the FREE 10 account.
HASH to Fingerprint an agreements
2Shakes stores electronic ‘fingerprints’ (called a hash) of documents on the Blockchain.
When an agreement has been signed 2Shakes takes each signed document and makes a unique HASH of it. If just one pixel is changed on the original document then the hash code will be different. This technology comes from a very well established area of mathematics and information technology called cryptography. We place this HASH onto the Etherium Blockchain and record the time and date. Anyone in the world can see this HASH code and when it was saved. But they can’t covert the hash code back to the original document.
If there was ever any dispute about the document, you (or you client) can take the original PDF and use it to recreate the HASH code and then compare it to the hash code that was saved on the blockchain. If it matches then this verifies that exactly the same document existed and when it was uploaded from 2Shakes.
This quick video explains blockchain technology.
Checking when a 2Shakes document was signed
After agreements are signed 2Shakes emails a PDF to your clients and saves a link on your Agreements screen with a hash symbol (#). You will see a hash symbol (#) under the document on the 2Shakes Agreement screen.
If you click on the hash (#) you will be taken to a transaction record in Etherscan that shows the hash and when it was saved on the Etherium block chain. This timestamp indicates when the hash of the signed document was upload.
Example: In this screen show the hash number of the document is shown directly after 000. This document hash is: e201cf020b706048a81e4bcfd20c5948d164c0f747f0e4f4364f53d854d02f443e081ae2a980be7fa864cb1a796e2e1d
Checking it has not been altered
2Shakes uses a 384 bit SHA3 algorithm, (SHA3-384). You can upload a PDF file through a SHA3-384 converter and it will create the hash. 2Shakes has a free SHA3 HASH converter. Use this link https://my.2shakes.co.nz/hash to try it for yourself.
Example: The same document produces the same hash that was saved on Etherium Blockchain. This proves that the the document (PDF) we have is exactly the same.