DocuSign Dives Deeper Into Blockchain Endeavors After Several Years Of Experimentations
In a recent Forbes post, it has been revealed that DocuSign, a business devoted to simplifying contracts and business processes, has been testing the waters of blockchain technologies well before big names in Wall Street.
Not only have they tested Bitcoin’s blockchain, but they have also done so using the Ethereum Blockchain. Today, DocuSign plans to take further measures to ensure their clients are satisfied with the services provided. Forbes has gotten in touch with DocuSign’s Chief Product Officer, Ron Hirson, who shared everything one needs to know about the overall stages endured.
DocuSign’s Endeavors Date Back As Early As 2015
According to the claims made, DocuSign was involved in blockchain technology as early as 2015. At the time, they created a “smart-contract meets smart-asset meets smart-payment,” which was a collaboration with Visa and built on the Bitcoin blockchain. Hirson calls the collaboration an attempt to allow users to “buy a car while sitting in the car,” which appears to be a reference to simplicity and convenience.
DocuSign Explores The Ethereum Blockchain In 2018
After testing the works of the Bitcoin blockchain, DocuSign decided it would be ideal to consider Ethereum. In 2018, the firm joined the Enterprise Ethereum Alliance (EEA). The partnership was DocuSign’s chance at understanding Ethereum, and they did so by creating a security-focused pilot storage appropriate for hash, cryptographic fingerprint and agreements.
Both Endeavors Did Not Reach New Heights, Here’s Why
According to Hirson, the reason DocuSign and Visa’s collaboration didn’t go mainstream was mainly because the duo considered it as a learning opportunity reports Forbes. The reason for choosing Bitcoin blockchain at the time, especially considering the fact it is not scalable today, is because Ethereum did not exist.
It seems like the curiosity in Ethereum stemmed from the limitations of Bitcoin, while also wanting to test something new. As for the reason why DocuSign and EEA’s endeavor did not heighten, was because of customer opinions. In particular, customers were supposedly satisfied with DocuSign’s services.
DocuSign’s Goals Moving Forward
DocuSign’s viewpoints on blockchain technology has not changed since their early beliefs. That is, the firm plans to further expand upon their knowledge on blockchain and see how they can implement its likes to enhance their services. Hirson shared that DocuSign wants to go above and beyond in the sense that they want to offer something that is more than “nice to have”.
Recent Investment In Clause
The need to stand out and bring something unique led DocuSign to invest in Clause, a business devoted to smart-contract technology. Forbes describes customers’ experiences of Clause as one allowing “contacts that utilize Clause’s technology can run in the background until a specific date, time or can event and execute with a certain condition is met.” This being said, Hirson believes that incorporating smart clauses into futures contracts makes work more automated while ridding the system of intermediary figures.
Clearly, this shows that DocuSign’s interest in blockchain does not merely rest in understanding how blockchain works but ensuring that existing claims on its efficiency and time and cost-effectiveness are met.
While their previous endeavors did not necessarily skyrocket, it seems like the firm is devoted to learning from their experiences, which alone is indicative of their willingness to commit to the industry. Moving forward, more emphasis needs to be placed on the choice of blockchain, as one of the common issues that require a solution is scalability. To learn more about DocuSign, click here.