Daniel Springer, the master executive officers at electronic signature engineering company DocuSign, says the firm isn't likely to incorporate additional blockchain technology anytime soon as current infrastructure is far cheaper.

In a Quartz report published yesterday, Springer said the San Francisco-based DocuSign's 2018 integration of the Ethereum blockchain involved the use of smart contracts with the house'due south e-signature and transaction direction service.

According to the CEO, this organization resulted in agreements costing roughly $1 each, compared to the usual $0.07 per understanding under DocuSign's standard encryption measures. In other words, using blockchain ended up 13X the price. Springer said:

"To spend $1 just on the storage is a footling bit crazy."

DocuSign's senior vice-president of applied science Tom Casey said most of the costs involved maintaining, managing, and operating blockchain infrastructure, rather than providing the firm'southward e-signature services. According to Casey, there hasn't been enough widespread adoption to help lower expenses associated with blockchain.

However, both execs have stated they meet the technology every bit having a possible future with DocuSign. Springer called blockchain "intriguing" at a conference in September, but added that he believed the engineering "doesn't have the calibration to provide attractive economic science" at present. Casey said he would be "keeping an heart on" blockchain utilise cases for identity protection.

In addition to the Ethereum partnership, DocuSign worked with Visa in 2015 to develop a proof-of-piece of work concept for smart contracts using blockchain engineering science. The firm'due south website states DocuSign is a member of the Enterprise Ethereum Alliance and the Accord Projection, facilitating the adoption of smart legal contracts.

The company'south shares have risen more than 209% in 2020, starting from $75.xc in January and were valued at $234.82 per share at the fourth dimension of publication.