A Blockchain-based Scalable Electronic Contract Signing System

Abstract

As the COVID-19 continues to spread globally, more and more companies are transforming into remote online offices, leading to the expansion of electronic signatures. However, the existing electronic signatures platform has the problem of data-centered management. The system is subject to data loss, tampering, and leakage when an attack from outside or inside occurs. In response to the above problems, this paper designs an electronic signature solution and implements a prototype system based on the consortium blockchain. The solution divides the contract signing process into four states: contract upload, initiation signing, verification signing, and confirm signing. The signing process is mapped with the blockchain-linked data. Users initiate the signature transaction by signing the uploaded contract's hash. The sign state transition is triggered when the transaction is uploaded to the blockchain under the consensus mechanism and the smart contract control, which effectively ensures the integrity of the electronic contract and the non-repudiation of the electronic signature. Finally, the blockchain performance test shows that the system can be applied to the business scenario of contract signing.