Blockchain technology, the underlying system that powers Bitcoin, could soon replace traditional signatures in legal, financial, and other documents. This technology offers a new way of signing and verifying digital transactions, making it almost impossible to forge signatures.
The blockchain is essentially a digital ledger of transactions, duplicated across a network of computers and updated in real time. Each block in the chain contains a list of transactions, which are time-stamped and linked to the previous block. This makes the blockchain a highly secure and transparent method of recording data.
In the future, blockchain signatures could be used in a variety of ways. For instance, they could serve as proof of identity, or verify the authenticity of artworks or other valuable items. They could also be used in contracts, wills, and other legal documents, replacing the need for physical signatures.
Despite its potential, the adoption of blockchain technology faces several challenges. These include the need for legal recognition and regulation, as well as concerns about privacy and security. However, with the rise of digital transactions and the increasing need for secure and transparent methods of verification, the blockchain could soon become the new standard for digital signatures.
Go to source article: http://www.wired.co.uk/news/archive/2016-01/05/blockchain-is-the-new-signature