By Thibault de Valroger, Senior Director, Business Development & Compliance, DocuSign France.
When the eIDAS (Electronic Identification and Trust Services for Electronic Transactions in the Internal Market) regulation comes into force with direct effect on 1st July, businesses and citizens across the EU will be affected. But what exactly does the new regulation mean?
eIDAS will promote the use of electronic signature for a range of public sector, private sector and personal transactions with the aim of easing the cross-border use of electronic services within the EU. It will prove to be a significant step in the right direction towards the EU’s ideal of seamless cross-border transactions and will underpin the success of the Digital Single Market by helping organisations do business more profitably.
The regulation encourages the use of multiple electronic trust services, including electronic signature. For electronic signature, eIDAS will give businesses and citizens clarity and standardised definitions of the different electronic signature types accepted in the EU.
Beyond electronic signature
Other than addressing electronic signature, the regulation will incorporate further trust services, including electronic seals, time stamping, certified electronic delivery and website authentication. All of these are designed to make doing business easier for organisations within the EU.
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The private sector companies that have led the way in the adoption of electronic signature will see cross-border transactions eased further and their day-to-day business becoming simpler. Whereas prior to 1st July, companies in the EU have had to worry about complying with each Member State’s electronic signature standards, eIDAS establishes those standards at the EU level as a whole, letting companies put the focus back on improving and accelerating their businesses.
Simultaneously, the regulation will make life easier for citizens throughout the EU. They will benefit from having greater trust in the organisations they deal with on a regular basis and have to deal with fewer barriers to completing transactions quickly and easily.
The public authorities will have more to learn when the new regulation comes into place but eIDAS will introduce many to the benefits of using electronic signature, to the extent that they should become integral to their operations.
There is still more work to be done at EU and domestic level to completely standardise the use of electronic signature, but eIDAS will create a more stable structure for conducting business digitally throughout the EU. This all points to a brighter future and the potential realisation of the EU Commission’s vision for a Digital Single Market in the EU.
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If this has piqued your interest, watch our webinar to see how DocuSign is helping companies take full advantage of the potential benefits of the introduction of eIDAS.