Why didn't "party-type" electronic signatures become widespread? A thorough explanation of the reasons and latest trends.
The method of signing electronic contracts (party type and witness type) is 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 methods of signing 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 structural risks associated with entrusting the private key."
• However, currently, with the spread of public personal authentication using My Number cards (JPKI), these three barriers are beginning to crumble.
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