This document proposes a token-based contract signing protocol using one-time private keys (OTPK) to provide secure authentication between parties. The protocol aims to solve issues with exchanging digital signatures for electronic contracts by ensuring fairness - that either both parties receive each other's signatures or neither does. It uses an offline trusted third party that is only involved if one party fails to send their signature. The key aspects are:
1) OTPK allows generation of a single-use private key for each authentication, improving security by preventing key storage.
2) The protocol simulates paper-based contract signing by exchanging digital signatures in a fair manner with or without a third party.
3) It aims to provide
A Novel Fair Anonymous Contract Signing Protocol for E-Commerce Applications IJNSA Journal
With the economy developing and popular Internet, the general concept of contract signing has changed. In the past, people usually sign a contract at the same time and same place face to face, but actually each party involved in contract may live in different part of earth, they want to sign something for business or some other things in economic, efficient, secure and fairway. A fair contract signing protocol allows two potentially mis-trusted parities to exchange their commitments (i.e., digital signatures) to an agreed contract over the Internet in a fair way, so that either each of them obtains the other’s signature, or neither party does. Based on the LUCAS signature scheme, a new digital anonymous contract signing protocol is proposed in this paper. Like the existing LUCAS-based solutions for the same problem, our protocol is fair, anonymous and optimistic. Furthermore, the proposed protocol satisfied a new
property, i.e., it is abuse-free. That is, if the protocol is executed unsuccessfully, either of the two parties can not show the validity of intermediate results to others.
This document discusses cyber or online contracts. It defines a cyber-contract as one created through communications over computer networks, whether entirely through email exchanges showing offer and acceptance, or a combination of electronic and other means. The key elements of a valid contract - offer, acceptance, consideration, and consent - still apply to online contracts. Digital signatures can verify the identity of parties to an online contract by encrypting messages with public and private keys. This allows confirmation that a message has not been altered and verifies the sender. Overall, the document outlines how traditional contract law elements can be applied to agreements made electronically.
this is a presentation on electronic contracts. this will be helpful in the study of various types of contract in the law. this topic is also there in the BBA course. in legal environment - 2
OPTIMIZING ONE FAIR DOCUMENT EXCHANGE PROTOCOLIJNSA Journal
This paper presents an efficient fair document exchange protocol. The exchange of the documents will be between two parties. The protocol is based on the verifiable and recoverable encryption of a document’s key. This verifiable and recoverable encryption of the document’s key will allow one party to verify the encrypted key. It will also ensure this party that the Semi Trusted Third Party will be able to recover the key if the other party misbehaves. The protocol also incorporates the concept of enforcing the honesty of one party. The proposed protocol consists of only three messages and is more efficient than related protocols.
An electronic signature is any electronic means that indicates a person's adoption of the contents of an electronic message or that the person who claims to have written a message is the one who wrote it. Electronic signatures provide similar legal protections as handwritten signatures by authenticating the identity of the signer and indicating their intent. Digital signatures use public key infrastructure and cryptography, including public and private keys, to securely sign electronic documents and ensure they have not been tampered with. Laws like the Information Technology Act of 2000 in India define electronic signatures and establish their legal validity, helping enable electronic transactions and the use of electronic signatures.
This document discusses the definition, essential elements, and validity of e-contracts under Indian law. It defines an e-contract as any contract formed through electronic means like email. The key points are:
1. The Indian Contract Act and Information Technology Act recognize the validity of e-contracts and electronic communications/records as legally binding.
2. Essential elements of a valid contract like offer, acceptance, consideration must be present in e-contracts for them to be enforceable.
3. E-contracts can be formed via websites through clickwrap/browsewrap/shrinkwrap agreements or via email exchange. The postal rule of acceptance applies to email.
4. Electronic records and digital signatures have evidentiary
A Novel Fair Anonymous Contract Signing Protocol for E-Commerce Applications IJNSA Journal
With the economy developing and popular Internet, the general concept of contract signing has changed. In the past, people usually sign a contract at the same time and same place face to face, but actually each party involved in contract may live in different part of earth, they want to sign something for business or some other things in economic, efficient, secure and fairway. A fair contract signing protocol allows two potentially mis-trusted parities to exchange their commitments (i.e., digital signatures) to an agreed contract over the Internet in a fair way, so that either each of them obtains the other’s signature, or neither party does. Based on the LUCAS signature scheme, a new digital anonymous contract signing protocol is proposed in this paper. Like the existing LUCAS-based solutions for the same problem, our protocol is fair, anonymous and optimistic. Furthermore, the proposed protocol satisfied a new
property, i.e., it is abuse-free. That is, if the protocol is executed unsuccessfully, either of the two parties can not show the validity of intermediate results to others.
This document discusses cyber or online contracts. It defines a cyber-contract as one created through communications over computer networks, whether entirely through email exchanges showing offer and acceptance, or a combination of electronic and other means. The key elements of a valid contract - offer, acceptance, consideration, and consent - still apply to online contracts. Digital signatures can verify the identity of parties to an online contract by encrypting messages with public and private keys. This allows confirmation that a message has not been altered and verifies the sender. Overall, the document outlines how traditional contract law elements can be applied to agreements made electronically.
this is a presentation on electronic contracts. this will be helpful in the study of various types of contract in the law. this topic is also there in the BBA course. in legal environment - 2
OPTIMIZING ONE FAIR DOCUMENT EXCHANGE PROTOCOLIJNSA Journal
This paper presents an efficient fair document exchange protocol. The exchange of the documents will be between two parties. The protocol is based on the verifiable and recoverable encryption of a document’s key. This verifiable and recoverable encryption of the document’s key will allow one party to verify the encrypted key. It will also ensure this party that the Semi Trusted Third Party will be able to recover the key if the other party misbehaves. The protocol also incorporates the concept of enforcing the honesty of one party. The proposed protocol consists of only three messages and is more efficient than related protocols.
An electronic signature is any electronic means that indicates a person's adoption of the contents of an electronic message or that the person who claims to have written a message is the one who wrote it. Electronic signatures provide similar legal protections as handwritten signatures by authenticating the identity of the signer and indicating their intent. Digital signatures use public key infrastructure and cryptography, including public and private keys, to securely sign electronic documents and ensure they have not been tampered with. Laws like the Information Technology Act of 2000 in India define electronic signatures and establish their legal validity, helping enable electronic transactions and the use of electronic signatures.
This document discusses the definition, essential elements, and validity of e-contracts under Indian law. It defines an e-contract as any contract formed through electronic means like email. The key points are:
1. The Indian Contract Act and Information Technology Act recognize the validity of e-contracts and electronic communications/records as legally binding.
2. Essential elements of a valid contract like offer, acceptance, consideration must be present in e-contracts for them to be enforceable.
3. E-contracts can be formed via websites through clickwrap/browsewrap/shrinkwrap agreements or via email exchange. The postal rule of acceptance applies to email.
4. Electronic records and digital signatures have evidentiary
1) Electronic contracts are standard form contracts with non-negotiable terms formulated by one party like a manufacturer or service provider. The Information Technology Act, 2000 recognizes the validity of e-contracts.
2) E-contracts can be formed via email exchanges or through websites using clickwrap, browsewrap, or shrinkwrap agreements. However, e-contracts raise issues around jurisdiction, capacity to contract, consent, and meeting of minds.
3) The Information Technology Act and Indian Evidence Act provide for the validity and evidentiary value of e-contracts in India if they meet requirements for identification of parties, subject matter, signatures. However, the laws do not address all aspects of online contracts.
This document provides an overview of digital signatures, including how they work and their legal aspects. It discusses how encryption scrambles messages and digital signatures verify authorship and document integrity. Digital signatures use public/private key pairs, where the private key is unique to the signer. To create a digital signature, a hash of the message and private key is computed. Verification involves recomputing the hash with the public key and signature to validate authenticity. Digital signatures provide evidence of authorship, represent a legal ceremony of approval, and make documents more efficient to process.
Digital signatures use public and private key cryptography to provide the security of a handwritten signature for digital documents. The sender uses their private key to encrypt a hash of the message, creating a digital signature. The receiver can then use the sender's public key to decrypt the signature and verify that it matches a hash of the received message, proving it came from the sender and was not altered. Digital signatures authenticate the sender and ensure integrity of the message. They prevent repudiation of signatures but reliance on private keys means signatures are suspect if a private key is compromised.
This document discusses e-contracts, comparing them to traditional contracts. It defines e-contracts as contracts formed online through email or other electronic means. E-contracts are legally binding under Indian law if they meet the requirements of a valid contract. Common types of e-contracts include shrinkwrap, clickwrap, and browsewrap agreements. The document analyzes several cases related to the validity of different e-contract types and notes some limitations, such as lack of clear notice for browsewrap agreements. It concludes that e-contracts will continue growing with advances in technology but notes Indian law does not fully cover all online contract aspects.
Moving towards an electronic real estate transactionDocuSign
This document provides an overview of the legal framework for electronic signatures in real estate transactions in the United States. It discusses the key federal and state laws governing electronic signatures, including the Electronic Signatures in Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA). These laws establish that electronic records and signatures have equal legal validity as paper documents with handwritten signatures. The document also outlines best practices for obtaining proper consent, logically associating signatures with records, record retention, and complying with both electronic signature laws and relevant real estate transaction laws.
This document discusses electronic contracts (e-contracts) under Indian law. It defines essential elements of valid contracts including offer, acceptance, consideration, and intention to create legal relations. Key provisions of the Information Technology Act relating to attribution of electronic records and time/place of communication are summarized. Different types of e-contracts like shrink wrap and click wrap agreements are described. Sample clauses from real e-contracts for email services, domain purchase, online share trading, and online shopping are provided to illustrate common purposes and sub-parts of e-contracts. Finally, the document outlines the legal framework for secure e-contracts covering different business and legal phases of the contracting process.
This document discusses e-commerce and e-contracts. It begins by defining e-commerce as commerce conducted electronically, including buying and selling of goods and services online. It then discusses different types of e-commerce like business-to-business, business-to-consumer, consumer-to-business, and consumer-to-consumer. The document also summarizes the Bhagwandas Kedia case, which established that contracts formed through telephone conversations are considered formed at the location where the acceptance is received, opening the door for e-contracts to be recognized.
This document provides an introduction to electronic contracting under South African law. It discusses key concepts like the requirements for a valid contract, the Electronic Communications and Transactions Act, and when electronic contracts are formed. It also covers types of electronic contracts like shrinkwrap and clickwrap agreements, and issues around standard terms and conditions in electronic contracts, including cases that address incorporating terms by reference and enforcing exemption clauses.
Trust is the fundamental currency of commerce, leading to the development of smart contracts for the digital economy. Smart contracts are coded transaction protocols that execute the terms of an agreement automatically when consensus conditions are met. They aim to facilitate transactions with more efficiency, trustworthiness, and transparency than traditional contracts by eliminating third parties. Oracles allow smart contracts to access external data needed to control execution by retrieving and delivering off-chain data to decentralized applications.
Chapter 06 Information Technology Act 2000Robin Kapoor
This document provides an overview of key sections of the Information Technology Act, 2000 regarding electronic records and digital signatures.
The Act is based on a UNCITRAL model law to facilitate electronic commerce by giving legal recognition to electronic records and digital signatures. Digital signatures use asymmetric cryptography and hash functions to authenticate electronic records.
The Act establishes rules for using digital signatures to authenticate electronic records, defines digital certificates issued by certifying authorities, and provides legal recognition for electronic records, digital signatures, and electronic governance procedures like filing documents electronically. It also covers attribution, acknowledgement and time/place of dispatch and receipt of electronic records.
Digital signatures provide authentication of digital documents by using asymmetric cryptography algorithms like RSA. Digital signatures demonstrate that a message was created by a known sender and was not altered in transit. They are commonly used for software distribution, financial transactions, and anywhere unaltered authentication is important. Digital signatures work by using public and private keys to encrypt a hash of the message, validating the source and integrity of the signed document.
This document discusses how Cloud Sign, an electronic contracting service in Japan, implemented rule changes to enable widespread social adoption. It summarizes how traditional interpretations made electronic contracts impractical, but Cloud Sign took a simple approach without strict legal compliance. This allowed their service to gain popularity through convenience. Eventually, the government recognized the validity of Cloud Sign's "business signature" method. This case shows how redefining norms and rules can transform industries by changing customary habits.
Electronic Transactions Law - Lecture 3: contractsCaroline B Ncube
This document discusses electronic contracts under South African law. It covers:
1) The essential requirements for a valid contract and how they apply to electronic contracts.
2) The reception theory which determines when electronic contracts are formed based on when messages are sent and received.
3) Different types of online agreements like shrinkwrap, clickwrap, and browsewrap contracts and when their terms can be considered binding.
4) Automated transactions under the Electronic Communications and Transactions Act and situations where agreements formed through electronic agents may not be enforceable.
E-contracts are contracts formed through electronic means like online shopping sites or apps. The document discusses the introduction, definition, nature, elements and types of e-contracts under Indian law. Key points include: e-contracts must meet all requirements of a valid contract under the Indian Contract Act; digital signatures can validate e-contracts; and Indian courts have recognized the formation of contracts through electronic communications and documents.
BLOCKCHAIN-BASED SMART CONTRACTS : A SYSTEMATIC MAPPING STUDY csandit
An appealing feature of blockchain technology is smart contracts. A smart contract is
executable code that runs on top of the blockchain to facilitate, execute and enforce an
agreement between untrusted parties without the involvement of a trusted third party. In this
paper, we conduct a systematic mapping study to collect all research that is relevant to smart
contracts from a technical perspective. The aim of doing so is to identify current research topics
and open challenges for future studies in smart contract research. We extract 24 papers from
different scientific databases. The results show that about two thirds of the papers focus on
identifying and tackling smart contract issues. Four key issues are identified, namely, codifying,
security, privacy and performance issues. The rest of the papers focuses on smart contract
applications or other smart contract related topics. Research gaps that need to be addressed in
future studies are provided.
This document discusses several legal issues that emerge from online contracting. It begins by introducing the topic and objectives. It then examines issues related to capacity to contract online, particularly regarding minors. It analyzes whether email falls under the postal rule or instantaneous communication rule for contract formation. The document also discusses electronic authentication standards, choice of law considerations between passive and interactive websites, and the European approach to personal jurisdiction.
Digital Signature, Electronic Signature, How digital signature works, Confidentiality of digital signature, Authenticity of digital signature, Integrity of digital signature, standard of digital signature, Algorithm of digital signature, Mathematical base of digital signature, parameters of digital signature, key computation of digital signature, key generation of digital signature, verification of of digital signature
Legal implications of blockchain and cryptocurrencies by faith obafemiFaith Obafemi Esq.
Legal Implications of Blockchain and Cryptocurrencies by Faith Obafemi. A presentation made at the Blockchain Week Lagos, organized in partnership with Work Station
The document discusses digital signatures, including how they work, their history, applications, and legal status in India. A digital signature uses public and private keys to authenticate a message sender's identity and verify that the message was not altered. It explains how digital signature certificates are issued by certified authorities and associate an individual's identity with their public and private keys. The document also addresses frequently asked questions about digital signatures, such as how they provide security, who issues them, how long they are valid for, and their legal standing.
An e-contract is any contract formed through electronic means such as email, websites, or software. The Uniform Computer Information Transactions Act provides rules for forming, governing, and setting basic terms of e-contracts. E-contracts can be formed through processes like exchanging emails containing offers and acceptances, completing web forms, or clicking to agree to online terms. There are different types of e-contracts like employment contracts, shrinkwrap contracts governing software licenses, and source code escrow agreements. Forming e-contracts involves information, intention, agreement, and settlement phases with various legal considerations around elements, signatures, and international guidelines.
DESIGN AND EVALUATION OF A NEW FAIR EXCHANGE PROTOCOL BASED ON AN ONLINE TTP IJNSA Journal
Security protocols in e-commerce are required to manage the transactions between buyers and sellers. In order to engage customers in e-commerce, these protocols should be well formulated and secured; they should protect both parties from fraudulent users and subsequently promote the growth of e-commerce. There are some protocols, known as fair exchange protocols, in e-commerce that are designed to guarantee fairness between the customer and the merchant so that neither party gains any advantage over the other. Therefore, in this paper, we introduce a new fair exchange protocol for trading products online between a buyer and a seller. The items to be exchanged in this protocol are a digital product and a payment. The following are the characteristics of this new protocol: (1) Dependency on a trusted third party is greatly reduced; further, the protocol also overcomes increased communication overheads and risks, hence leading to substantial improvement in the efficiency and practicality of the protocol. (2) The
protocol ensures fairness for all parties and provides an internal dispute resolution mechanism, thereby guaranteeing that none of the parties involved in the transaction suffer unfairly in case one of the entities disappears before the transaction is formalized. (3) The protocol consists of three messages exchanged between the buyer (customer) and the seller (merchant).
A Fair Exchange & Customer Anonymity Protocol Using A Trusted Third Party for...IJNSA Journal
The rapid development of technology and the reach of such technologies at affordable costs has made it possible for all people across the world to make purchases at a click of the mouse and at their convenience.Electronic commerce technologies and protocols facilitate the processing of online transactions. Trust plays a major role in e-commerce transactions and various protocols help establishing this trust by providing fair exchange and anonymity.
The research aims at designing and developing a protocol that provides both fair exchange and anonymity, thus avoiding the need to have manual dispute resolution. It takes into account the technical flaws researched and overcomes those by implementing methods to ensure that confidentiality and integrity of the messages are maintained by making sure that the Trusted Third Party does not have the authority to view or modify the messages but can only verify the authenticity of the other two parties.
1) Electronic contracts are standard form contracts with non-negotiable terms formulated by one party like a manufacturer or service provider. The Information Technology Act, 2000 recognizes the validity of e-contracts.
2) E-contracts can be formed via email exchanges or through websites using clickwrap, browsewrap, or shrinkwrap agreements. However, e-contracts raise issues around jurisdiction, capacity to contract, consent, and meeting of minds.
3) The Information Technology Act and Indian Evidence Act provide for the validity and evidentiary value of e-contracts in India if they meet requirements for identification of parties, subject matter, signatures. However, the laws do not address all aspects of online contracts.
This document provides an overview of digital signatures, including how they work and their legal aspects. It discusses how encryption scrambles messages and digital signatures verify authorship and document integrity. Digital signatures use public/private key pairs, where the private key is unique to the signer. To create a digital signature, a hash of the message and private key is computed. Verification involves recomputing the hash with the public key and signature to validate authenticity. Digital signatures provide evidence of authorship, represent a legal ceremony of approval, and make documents more efficient to process.
Digital signatures use public and private key cryptography to provide the security of a handwritten signature for digital documents. The sender uses their private key to encrypt a hash of the message, creating a digital signature. The receiver can then use the sender's public key to decrypt the signature and verify that it matches a hash of the received message, proving it came from the sender and was not altered. Digital signatures authenticate the sender and ensure integrity of the message. They prevent repudiation of signatures but reliance on private keys means signatures are suspect if a private key is compromised.
This document discusses e-contracts, comparing them to traditional contracts. It defines e-contracts as contracts formed online through email or other electronic means. E-contracts are legally binding under Indian law if they meet the requirements of a valid contract. Common types of e-contracts include shrinkwrap, clickwrap, and browsewrap agreements. The document analyzes several cases related to the validity of different e-contract types and notes some limitations, such as lack of clear notice for browsewrap agreements. It concludes that e-contracts will continue growing with advances in technology but notes Indian law does not fully cover all online contract aspects.
Moving towards an electronic real estate transactionDocuSign
This document provides an overview of the legal framework for electronic signatures in real estate transactions in the United States. It discusses the key federal and state laws governing electronic signatures, including the Electronic Signatures in Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA). These laws establish that electronic records and signatures have equal legal validity as paper documents with handwritten signatures. The document also outlines best practices for obtaining proper consent, logically associating signatures with records, record retention, and complying with both electronic signature laws and relevant real estate transaction laws.
This document discusses electronic contracts (e-contracts) under Indian law. It defines essential elements of valid contracts including offer, acceptance, consideration, and intention to create legal relations. Key provisions of the Information Technology Act relating to attribution of electronic records and time/place of communication are summarized. Different types of e-contracts like shrink wrap and click wrap agreements are described. Sample clauses from real e-contracts for email services, domain purchase, online share trading, and online shopping are provided to illustrate common purposes and sub-parts of e-contracts. Finally, the document outlines the legal framework for secure e-contracts covering different business and legal phases of the contracting process.
This document discusses e-commerce and e-contracts. It begins by defining e-commerce as commerce conducted electronically, including buying and selling of goods and services online. It then discusses different types of e-commerce like business-to-business, business-to-consumer, consumer-to-business, and consumer-to-consumer. The document also summarizes the Bhagwandas Kedia case, which established that contracts formed through telephone conversations are considered formed at the location where the acceptance is received, opening the door for e-contracts to be recognized.
This document provides an introduction to electronic contracting under South African law. It discusses key concepts like the requirements for a valid contract, the Electronic Communications and Transactions Act, and when electronic contracts are formed. It also covers types of electronic contracts like shrinkwrap and clickwrap agreements, and issues around standard terms and conditions in electronic contracts, including cases that address incorporating terms by reference and enforcing exemption clauses.
Trust is the fundamental currency of commerce, leading to the development of smart contracts for the digital economy. Smart contracts are coded transaction protocols that execute the terms of an agreement automatically when consensus conditions are met. They aim to facilitate transactions with more efficiency, trustworthiness, and transparency than traditional contracts by eliminating third parties. Oracles allow smart contracts to access external data needed to control execution by retrieving and delivering off-chain data to decentralized applications.
Chapter 06 Information Technology Act 2000Robin Kapoor
This document provides an overview of key sections of the Information Technology Act, 2000 regarding electronic records and digital signatures.
The Act is based on a UNCITRAL model law to facilitate electronic commerce by giving legal recognition to electronic records and digital signatures. Digital signatures use asymmetric cryptography and hash functions to authenticate electronic records.
The Act establishes rules for using digital signatures to authenticate electronic records, defines digital certificates issued by certifying authorities, and provides legal recognition for electronic records, digital signatures, and electronic governance procedures like filing documents electronically. It also covers attribution, acknowledgement and time/place of dispatch and receipt of electronic records.
Digital signatures provide authentication of digital documents by using asymmetric cryptography algorithms like RSA. Digital signatures demonstrate that a message was created by a known sender and was not altered in transit. They are commonly used for software distribution, financial transactions, and anywhere unaltered authentication is important. Digital signatures work by using public and private keys to encrypt a hash of the message, validating the source and integrity of the signed document.
This document discusses how Cloud Sign, an electronic contracting service in Japan, implemented rule changes to enable widespread social adoption. It summarizes how traditional interpretations made electronic contracts impractical, but Cloud Sign took a simple approach without strict legal compliance. This allowed their service to gain popularity through convenience. Eventually, the government recognized the validity of Cloud Sign's "business signature" method. This case shows how redefining norms and rules can transform industries by changing customary habits.
Electronic Transactions Law - Lecture 3: contractsCaroline B Ncube
This document discusses electronic contracts under South African law. It covers:
1) The essential requirements for a valid contract and how they apply to electronic contracts.
2) The reception theory which determines when electronic contracts are formed based on when messages are sent and received.
3) Different types of online agreements like shrinkwrap, clickwrap, and browsewrap contracts and when their terms can be considered binding.
4) Automated transactions under the Electronic Communications and Transactions Act and situations where agreements formed through electronic agents may not be enforceable.
E-contracts are contracts formed through electronic means like online shopping sites or apps. The document discusses the introduction, definition, nature, elements and types of e-contracts under Indian law. Key points include: e-contracts must meet all requirements of a valid contract under the Indian Contract Act; digital signatures can validate e-contracts; and Indian courts have recognized the formation of contracts through electronic communications and documents.
BLOCKCHAIN-BASED SMART CONTRACTS : A SYSTEMATIC MAPPING STUDY csandit
An appealing feature of blockchain technology is smart contracts. A smart contract is
executable code that runs on top of the blockchain to facilitate, execute and enforce an
agreement between untrusted parties without the involvement of a trusted third party. In this
paper, we conduct a systematic mapping study to collect all research that is relevant to smart
contracts from a technical perspective. The aim of doing so is to identify current research topics
and open challenges for future studies in smart contract research. We extract 24 papers from
different scientific databases. The results show that about two thirds of the papers focus on
identifying and tackling smart contract issues. Four key issues are identified, namely, codifying,
security, privacy and performance issues. The rest of the papers focuses on smart contract
applications or other smart contract related topics. Research gaps that need to be addressed in
future studies are provided.
This document discusses several legal issues that emerge from online contracting. It begins by introducing the topic and objectives. It then examines issues related to capacity to contract online, particularly regarding minors. It analyzes whether email falls under the postal rule or instantaneous communication rule for contract formation. The document also discusses electronic authentication standards, choice of law considerations between passive and interactive websites, and the European approach to personal jurisdiction.
Digital Signature, Electronic Signature, How digital signature works, Confidentiality of digital signature, Authenticity of digital signature, Integrity of digital signature, standard of digital signature, Algorithm of digital signature, Mathematical base of digital signature, parameters of digital signature, key computation of digital signature, key generation of digital signature, verification of of digital signature
Legal implications of blockchain and cryptocurrencies by faith obafemiFaith Obafemi Esq.
Legal Implications of Blockchain and Cryptocurrencies by Faith Obafemi. A presentation made at the Blockchain Week Lagos, organized in partnership with Work Station
The document discusses digital signatures, including how they work, their history, applications, and legal status in India. A digital signature uses public and private keys to authenticate a message sender's identity and verify that the message was not altered. It explains how digital signature certificates are issued by certified authorities and associate an individual's identity with their public and private keys. The document also addresses frequently asked questions about digital signatures, such as how they provide security, who issues them, how long they are valid for, and their legal standing.
An e-contract is any contract formed through electronic means such as email, websites, or software. The Uniform Computer Information Transactions Act provides rules for forming, governing, and setting basic terms of e-contracts. E-contracts can be formed through processes like exchanging emails containing offers and acceptances, completing web forms, or clicking to agree to online terms. There are different types of e-contracts like employment contracts, shrinkwrap contracts governing software licenses, and source code escrow agreements. Forming e-contracts involves information, intention, agreement, and settlement phases with various legal considerations around elements, signatures, and international guidelines.
DESIGN AND EVALUATION OF A NEW FAIR EXCHANGE PROTOCOL BASED ON AN ONLINE TTP IJNSA Journal
Security protocols in e-commerce are required to manage the transactions between buyers and sellers. In order to engage customers in e-commerce, these protocols should be well formulated and secured; they should protect both parties from fraudulent users and subsequently promote the growth of e-commerce. There are some protocols, known as fair exchange protocols, in e-commerce that are designed to guarantee fairness between the customer and the merchant so that neither party gains any advantage over the other. Therefore, in this paper, we introduce a new fair exchange protocol for trading products online between a buyer and a seller. The items to be exchanged in this protocol are a digital product and a payment. The following are the characteristics of this new protocol: (1) Dependency on a trusted third party is greatly reduced; further, the protocol also overcomes increased communication overheads and risks, hence leading to substantial improvement in the efficiency and practicality of the protocol. (2) The
protocol ensures fairness for all parties and provides an internal dispute resolution mechanism, thereby guaranteeing that none of the parties involved in the transaction suffer unfairly in case one of the entities disappears before the transaction is formalized. (3) The protocol consists of three messages exchanged between the buyer (customer) and the seller (merchant).
A Fair Exchange & Customer Anonymity Protocol Using A Trusted Third Party for...IJNSA Journal
The rapid development of technology and the reach of such technologies at affordable costs has made it possible for all people across the world to make purchases at a click of the mouse and at their convenience.Electronic commerce technologies and protocols facilitate the processing of online transactions. Trust plays a major role in e-commerce transactions and various protocols help establishing this trust by providing fair exchange and anonymity.
The research aims at designing and developing a protocol that provides both fair exchange and anonymity, thus avoiding the need to have manual dispute resolution. It takes into account the technical flaws researched and overcomes those by implementing methods to ensure that confidentiality and integrity of the messages are maintained by making sure that the Trusted Third Party does not have the authority to view or modify the messages but can only verify the authenticity of the other two parties.
A fair exchange & customer anonymity protocolIJNSA Journal
The rapid development of technology and the reach of such technologies at affordable costs has made it
possible for all people across the world to make purchases at a click of the mouse and at their
convenience.Electronic commerce technologies and protocols facilitate the processing of online
transactions. Trust plays a major role in e-commerce transactions and various protocols help establishing
this trust by providing fair exchange and anonymity.
The research aims at designing and developing a protocol that provides both fair exchange and anonymity,
thus avoiding the need to have manual dispute resolution. It takes into account the technical flaws
researched and overcomes those by implementing methods to ensure that confidentiality and integrity of the
messages are maintained by making sure that the Trusted Third Party does not have the authority to view
or modify the messages but can only verify the authenticity of the other two parties.
Digital signature is an electronic signature form used by an original signer to sign a specific
document. When the original signer is not in his office or when he/she travels outside, he/she delegates his
signing capability to a proxy signer and then the proxy signer generates a signing message on behalf of the
original signer.During the transmission of data between the sender and receiver, errors may occur frequently.
Therefore, the sender must re-transmit the data to the receiver in order to correct these errors, which makes the
system very feeble. The techniques of proxy signature and fault tolerance are two important issues in modern
communication.To communicate securelyover an unreliable public network, the two parties must be able to
authenticate one another and agree on a secret encryption key. Authenticated key agreement protocols have an
important role in building a secure communications network between the two parties. In this paper, we propose
a secure proxy signature scheme with fault tolerance over an efficient and secure authenticated key agreement
protocol based on factoring and the discrete logarithm problem.
Smart contracts are programs stored on a blockchain that automatically execute the terms of an agreement. They provide authentication of parties through digital identities and run on decentralized blockchains using cryptocurrency accounts. While offering advantages like speed, cost savings, and accuracy over traditional contracts, smart contracts currently have disadvantages like a lack of regulation and inability to modify terms. An example of smart contracts' use is automating a car purchase on a blockchain from selection to ownership transfer without intermediate parties. Further development is needed to address current limitations and optimize their use in business activities.
The document discusses digital signatures, which provide authentication of electronic documents and messages. Digital signatures use public key cryptography, with each user having a unique private key and corresponding public key. To generate a digital signature, a document's hash value is encrypted with the sender's private key. Recipients can verify the signature by decrypting the hash with the sender's public key and comparing it to a newly generated hash of the received document. This allows confirmation of the sender's identity and ensures the document has not been altered. The document outlines the basic digital signature process and requirements for using digital signatures to authenticate electronic information.
This document provides an overview of smart contracts including what they are, how they are audited, how they are developed, and their key advantages. Smart contracts allow transactions to be carried out transparently without third parties by defining the terms and conditions in code stored on the blockchain. They provide benefits such as accuracy, transparency, speed, security, efficiency and cost savings compared to traditional contracts. Examples of smart contract use cases include financial services, healthcare, supply chain management, and voting.
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H0342043046
1. International Journal of Computational Engineering Research||Vol, 03||Issue, 4||
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Token Based Contract Signing Protocol using OTPK
Bhagyashree Bodkhe1,
Ms. Pallavi Jain2,
1
Department of Computer Science and Engineering, Shri Vaishnav Institute of Technology and Science, Indore
(M.P.), India
I. INTRODUCTION
In electronic transactions the involved parties do not trust each other; hence a contract signing is
needed in this situation. The contract signing is simple in the paper based scenario due to the existence of
simultaneity. Two hard copies of the same contract are signed by both people at the same place and at the same
time. After that, each one keeps one copy as a legal document that shows both of them have committed to have
the contract. Therefore the other party must provide the signed contract to a judge in court if one party does not
abide. Forging a signature is a difficult matter for a false person would need to be present physically to produce
it. Instead simultaneity is achieved through the notion of fairness. Contracts play an important role in many
business transactions. Traditionally, paper-based contracts it is necessary that the contract is signed by both the
parties at same time and at the same venue. Both the parties sign a copy of the contract for every contracting
party so that every party has a copy of the signed contract. If the parties, however, are not able to meet to sign
the paper-based contract, then signing an electronic contract is an alternative. The problem with signing
electronic contracts, however, is exchanging the signatures of the parties, especially where there is a lack of trust
between parties. One party may send the other party their signature on the contract but may not receive the
signature of the other party in return. To solve the problems of exchanging digital signatures, contract signing
protocols are used. Contract Signing Protocols ensure that either contracting parties receive signature or neither
of them. Thus a new, efficient contract signing protocol is proposed. The proposed protocol is based on offline
trusted third party (TTP) that brought into play only if one party fails to send their signature on the contract. In
the normal execution of the protocol, the transaction parties will exchange their signatures directly.
1.1 One Time Private Key
In daily life there are various electronic transactions possible for the quick transfer of information from
one party to other. During the exchange of information between two parties fairness between the parties is
important otherwise it will give rise to various types of attacks [9]. Thus to overcome such limitation a secure
technique for strong authentication is One time private key in which sender and receiver uses his/her own key
for the authentication and when the encryption and decryption is performed at both the end by sender and
receiver then the key will be destroyed.
ABSTRACT:
In the Information Security field there are many of the techniques that make the application
secure by exchanging data between two parties. A fair exchange is required for increasing the chances
of attack. Hence a new contract signing protocol is proposed based on the OTPK (one time private key)
scheme. This protocol will allow two parties to exchange their digital signature between them by
signing contract. The proposed protocol ensures fairness such that either both parties receive each
other’s signatures or neither of them. The proposed protocol uses offline Trusted Third Party (TTP)
that will be brought into play only if one party is cheating in other case, the TTP remains inactive. The
idea is to use a better authentication between two parties in which a token is send to the TTP in
response to that one private key is generated that is used for the authentication between two parties
and after a certain amount of time that key has be destroyed. Thus with OTPK scheme the key is not
stored at any place so the storage cost will be reduced.
Keywords: asymmetric, digital signature, fairness, OTPK, private key, TTP, security.
2. Token Based Contract Signing Protocol Using Otpk
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Salient features of OTPK
OTPK is only for One-time use. The certificate is short-lived.
Each time a signature is needed; the key is generated, certified, used to sign the transaction, and then
deleted.
Key always remains in client possession throughout the short lifetime, and never stored on a permanent
basis.
Main security lies in the online certification process where the user would use strong (2-factor)
authentication to the CA.
II. BACKGROUND
A Contract Signing protocol is a new way of securing the exchange of data information over the
internet, since the chance of cheating over the network has been increased, hence the solution is implement a
new and efficient protocols for the prevention from various attacks in the network as well as different online
applications such as E-commerce can be done securely. Also during the exchange of information between two
parties fairness is maintained and no party can cheat the other in an optimistic manner.
III. RELATED WORK
The contract signing protocol will allow two parties to sign the same contract and then exchange the
digital signature between them. The proposed protocol ensures fairness in such a way that it offers parties
greater security: either both parties receive each other’s signatures or neither of them. But the fair exchange
always needs a trusted third party.
In 2011 Alfin Abraham[1] has proposed a Abuse-Free Optimistic Contract Signing Protocol which
allow the two parties to sign the contract using digital signature. This protocol is based on RSA technique. In
this protocol the contract is signed using multiple TTP’s thus there is no single point of failure will cause and
with multiple TTP’s the chances of attack will be less.
In 2011 Alfin Abraham, Vinodh Ewards, Harlay Maria Mathew [2] has implemented optimistic fair
digital exchange protocol. Here in this paper he made a survey of optimistic and fair exchange protocol.
Optimistic, means the third trusted party (TTP) is involved only in the situations where one party is cheating or
the communication channel is interrupted.
In Park et al.’s RSA-Based Multisignature Protocol [5] Here in this protocol he use RSA signature and
multisignature model for an efficient fair exchange protocol and for zero knowledge proof.
In Verifiable Escrows Based Protocol [2] that allows two parties to exchange digital signatures so that
either each party gets the other’s signature, or neither party does. Here the trusted third party is used as an
“escrow service”. The basic idea is that Alice, the initiator, encrypts her signature under the public key of the
trusted third party. So Bob, the responder, can have it decrypted by the trusted third party. Together with this
escrow scheme a standard “cut-and-choose” interactive proof is used which make it verifiable. In the sense that
the player who receives this escrow can verify that it is indeed the escrow of a signature of the desired form with
a correct condition attached. This protocol makes use of three sub-protocols: an abort protocol for the initiator, a
resolve protocol for the receiver, and a resolve protocol for the initiator. The protocol can also be used to
encrypt data for maintaining data integrity while it is exchanged through the internet.
In 2004 F. Bao, G. Wang, J. Zhou, and H. Zhu proposed Fair Contract Signing Protocol [6]. In
thisprotocol, two mutually distrusted parties exchange their commitments to a contract in such that either each
of them can obtain the other’s commitment, or neither of them does. A efficient approach for fair contract
signing is using an invisible trusted third party. TTP comes into play when one party is cheating. The protocol is
a generic scheme since any secure digital signature scheme and most of secure encryption algorithms can be
used to implement it.In 2006 Generic Fair Non-Repudiation Protocols with Transparent Off-Line TTP [8] was
proposed.In this non-repudiation service irrefutable evidences need to be generated, exchanged, and validated
via computer networks. After the completion of such a transaction, each involved party should obtain the
expected items. If any dishonest party denies his/her participation in a specific transaction, others can refute
such a claim by providing electronic evidences to a judge. This non-repudiation protocol [8] is a generic fair
protocol with transparent off-line TTP. This protocol is exchanges a digital message and an irrefutable receipt
between two mistrusting parties over the Internet. At the end of this protocol execution, either both parties
obtain their expected items or neither party does.
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IV. PROBLEM SPECIFICATION
Although there are many authentication techniques implemented for the contract signing between two
clients but here the digital signature is based on RSA digital signature scheme and the trust in a single TTP is
divided into multiple TTP. Thus this proposed protocol avoids single point of failure but doesn’t provide an
authentication between two parties and where the chances of cheating are more. The trapdoor commitment
scheme explained in makes this protocol an abuse free one where the abuse freeness is a necessary property in
contract signing but is not very efficient as per the authentication is concerned.
4.1 Objectives
To determine mutual authentication between sender and the receiver.
To determine simulation of data transmission between sender and receiver and multiple TTP’s.
To determine separate generation of one time private key.
To determine simulation of contract signing.
V. PROPOSED SCHEME
As shown in the figure 1 is the architecture proposed for the contract signing protocol using OTPK,
here in this technique the authentication or the digital signatures generated is one time and as soon as the
transmission is successful the key is destroyed.
1. First of all one party needs to register on the TTP and make request for signing to TTP .Both the parties are
issued an OTP token that can be sending over a secure channel.
2. The OTP token will be used for the authentication between two parties.
3. During the generation of digital signatures an OTPK module is used which consists of:
First of all generating public-private key pair for authentication of user.
Each user need to provide the OTP token to the CA.
So that the CA will verifies the authentication of user if the authentication get succeed the key pair will
destroyed.
4. Thus the contract is signed between two parties in a secure way using TTP.
5. When the communication is over between parties then TTP destroys the secret key generated.
Figure 1. Architecture of OTPK scheme
VI. CONCLUSION
The aim of this paper is construct a new and efficient token based contract signing protocol with
Multiple TTP’s using One time private key (OTPK).Thus this protocol not only solve the problem of single
point of failure by using multiple TTP’s but allow the Key to always remains in client possession throughout the
short lifetime, and never stored on a permanent basis so help in reducing the storage cost and thus providing
security against various attacks.
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REFERENCES
[1] Alfin Abraham, “An Abuse-Free Optimistic Contract Signing Protocol with Multiple TTPs”, IJCA Special Issue on
“Computational Science – New Dimensions & Perspectives” NCCSE, 2011.
[2] Alfin Abraham, Vinodh Ewards, Harlay Maria Mathew”, A Survey on Optimistic Fair Digital Signature Exchange Protocols”,
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[4] Giuseppe Ateniese, “ Effcient Verifiable Encryption (and Fair Exchange) of Digital Signatures”, ACM 1999.
[5] Jung Min Park, Edwin K.P. Chong, Howard Jay Siegel,” Constructing Fair-Exchange Protocols for E-commerce Via Distributed
Computation of RSA Signatures”, ACM 2003.
[6] F. Bao, G. Wang, J. Zhou, and H. Zhu, “Analysis and improvement of Micali’s fair contract signing protocol,” in Proc.
ACISP’04, 2004, vol. 3108, LNCS, pp. 176–187, Springer-Verlag.
[7] S. Micali, “Simple and fast optimistic protocols for fair electronic exchange,” in Proc. PODC’03, 2003, pp. 12–19, ACMPress.
[8] G. Wang, “Generic non-repudiation protocols supporting transparent off-line TTP,” J. Comput. Security, vol. 14, no. 5, pp.441–
467,Nov.2006.
[9] Vinod Moreshwar Vaze,” Digital Signature on-line, One Time Private Key [OTPK]”, International Journal of Scientific&
Engineering Research Volume 3, Issue 3, March -2012 1 ISSN22295518”.
[10] O. Markowitch and S. Kremer. An optimistic non-repudiation protocol with transparent trusted third party. In: Information
Security Conference (ISC’01), LNCS 2200, pp. 363-378. Springer-Verlag, 2001.
[11] Y. Dodis and L. Reyzin, “Breaking and repairing optimistic fair exchange from PODC 2003,” in Proc. ACM Workshop on
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