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XML signature,
efficient and secure digital software and e-signature articles.
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A XML signature standard defined by W3C and IETF for
signing any data where the
resulting output is an XML document and follows the XML Signature
standard.
XML signature,
the most significant e-commerce legislation to pass in this session
of Congress.
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The
XML signature or
E-Sign Act has been termed the most
significant e-commerce
legislation to pass in this session of Congress, and has been
long sought by both the financial services and the technology
industries. The E-Sign Act, which was in the works for over three years,
will soon allow businesses to seal multimillion dollar mergers and
consumers to buy cars, apply for loans or close mortgages with a simple
click of a computer key. The E-Sign Act should have a profound effect on
both business to business and business to consumer e-commerce, which is
expected to triple from $500 billion in 1999 to over $1.6 trillion by
2003.
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XML signature
validity, contracts and records
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The E-Sign Act is landmark legislation because it gives recognition and
effect to
XML signature, contracts and
records. It not only authorizes so called
digital
signatures but also empowers the use of online contracting and
provision of notices. The Act's coverage of "records," which includes a
wide variety of notices and other documents, is particularly
significant. The Administration initially opposed allowing records to
take advantage of electronic media, but it relented in the face of
uniform industry support for their inclusion. No longer will these
electronic methods be open to question. Billions of dollars of
business to business and business to consumer transactions will be
facilitated as written
XML signature and paper
notices will no longer be required. In stating the general rule of
validity for
electronic signatures, contracts and records, the E-Sign Act
provides that any signature, contract or other record relating to a
transaction in or affecting interstate or foreign commerce "may not be
denied legal effect, validity or enforceability solely because it is in
electronic form." Moreover, a contract relating to such transactions may
not be denied legal effect, validity or enforceability solely because an
XML signature or electronic
record was used in its formation.
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