Why did "participant-type" electronic signatures not become widespread? A thorough explanation of the reasons and the latest trends.
The signing methods for electronic contracts (party type and witness type) are directly linked to the strength of their legal effectiveness. In this article, we will outline the reasons why the more stringent "party type" has been difficult to popularize until now.
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• There are two signing methods for electronic contracts: "witness type" and "party type," which differ in the strictness of identity verification.
• The main reasons why the party type has not spread are the three factors of "effort, cost, and the structural risk of entrusting a private key."
• However, with the spread of public personal authentication (JPKI) using My Number cards, these three barriers are beginning to crumble.
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