How European Experience and Blockchain Can Improve Electronic Signatures and Digital Identities in Australia (and Not Only)?

Abstract

Europe has been running a legislative framework for electronic signatures and digital identities since 1999. In 2014 the EU parliament introduced a significant upgrade by presenting eIDAS regulation. In light of recent initiatives in Australia to improve the legislation for doing business remotely, this experience is valuable because the European community was among the first in the world to introduce electronic signatures and developed a unique legal and technological framework that many other countries borrowed. Though the experience is full of pitfalls and drawbacks, which is also valuable to consider, moreover, it has a significant gap in the use of blockchains and addressing the issue of legal validity of blockchain transactions, including smart contracts.