What is a digital signature (token)? Why are businesses REQUIRED to have one?

What is a digital signature (token)? What is a digital signature used for? Why are businesses required to have one? Let’s learn about digital signatures in this article with fdiinvietnam.com.

WHAT IS A DIGITAL SIGNATURE (TOKEN)? 

Concept of digital signature

There are many ways to define tokens. From the perspective of businesses using tokens, a digital signature/digital certificate/electronic token… is a device that encrypts all data and information of a business, used to sign instead of a signature on documents and digital documents performed in electronic transactions or over the internet.

Pursuant to Clause 6, Article 3 of Decree 130/2018/ND-CP detailing digital signatures and digital signature certification services: “Digital signature” is a form of electronic signature created by transforming a data message using an asymmetric cryptographic system, whereby a person who has the original data message and the signer’s public key can accurately determine:

• The above transformation is generated using the correct secret key corresponding to the public key in the same key pair;
• The integrity of the content of the data message since the above transformation was performed.

• Digital signature can be divided into two main parts:

+ Hardware – similar to a USB (called a USB token) and secured with a password or PIN code;
+ Digital certificate is an inseparable part of the digital signature, containing all encrypted data of the enterprise.

ARE DIGITAL SIGNATURES AND DIGITAL CERTIFICATES THE SAME?

In essence, a digital certificate is the encrypted part inside a digital signature that contains identification information to confirm which individual or business is the user of the digital signature.

The content of the certificate in the enterprise’s digital signature includes the following basic information:

STT	CONTENT OF DIGITAL CERTIFICATE
1	Name of the organization providing digital signature certification services ( Example: VIETTEL-CA)
2	Information of the business purchasing the digital signature such as: Company name, tax code…
3	Digital certificate number (serial number)
4	Validity period of digital certificate
5	Public key of the enterprise is granted digital certificate
6	Digital signature of the organization providing digital signature certification services
7	Restrictions on the purpose and scope of use of digital certificates
8	Limitations on liability of organizations providing digital signature certification services
9	Cryptographic algorithm
10	Other necessary contents as prescribed by the Ministry of Information and Communications

 

WHAT IS A DIGITAL SIGNATURE USED FOR?

Digital signatures are used for online tax declaration, electronic customs declaration, electronic banking transactions, electronic stock transactions, electronic social insurance declaration, electronic invoice signing, national one-stop information portal, administrative agencies… without having to print declarations and stamp the company’s red seal.

Individuals and businesses can use digital signatures to sign contracts with business partners online without having to meet. Just sign the contract file and send it via email.

Benefits that digital signatures bring to businesses:

• Digital signature is a device that ensures safety and accuracy, with high data security and integrity;
• Online records are legally recognized as equivalent to hard copy records (with the signature of an authorized person and the seal of the organization/enterprise). Therefore, this is proof of non-repudiation of responsibility for the signed content, helping individuals/agencies/organizations feel more secure with their electronic transactions;
• In addition, digital signatures will help data exchange easily, quickly, ensure legality, save a lot of time traveling, waiting, no need to print documents. Signing can also take place anywhere, anytime.

With digital signatures, businesses no longer have to print and manage paper documents. Organizations/businesses can electronically sign and store documents such as contracts, accounting documents, accounting reports, management reports, etc.

WHERE TO BUY DIGITAL SIGNATURE? HOW MUCH IS A DIGITAL SIGNATURE?

So which provider should you buy a digital signature from? Currently, there are more than 15 organizations licensed by the Ministry of Information and Communications to provide digital signature services such as: VIETTEL, VNPT, FPT, BKAV, CK, VINA, NEWTEL, NACENCOMM, SAFE-CA… Digital signatures from any provider are all good, with the same features, the important thing is whether you choose a good service provider (also known as a digital signature agent/collaborator) or not. There are 2 factors you need to consider when choosing a digital signature agent:

• About the price of digital signature: There are many agents competing unfairly in the market, they often sell businesses digital signature service packages lower than other suppliers with many incentives such as 500 free invoices, social insurance software. But to use these promotions, businesses must pay additional costs to use such as: Initialization costs, installation… Therefore, before finding out the selling price, you need to note: 

 + Does the selling price include VAT?
 + Do you have to pay additional costs for installation and user manual?
 + What is the final price you have to pay?
 + Are there any promotions included in the payment price?
 + Is the price to renew the digital signature after use high or low?

• About after-sales support services: At the end of each quarter and year, problems often occur during tax declaration, tax payment, social insurance, electronic customs, etc. Does the agent/collaborator selling you digital signatures have good enough skills and enthusiasm to help you solve the problem or just abandon the child?

With many years of experience providing accounting services and working with digital signature service providers, according to fdiinvietnam.com, Viettel-CA (Viettel digital signature) is the leading prestigious digital signature provider in Vietnam. Although the price is higher than some other providers, Viettel’s digital signature is considered stable and ensures high security. In addition, problems arising during the use of digital signatures are handled very quickly by Viettel.

 See more: Price list and service packages of Viettel digital signature.

Above is the necessary information about digital signatures. If you need more legal advice on this issue or need advice on buying digital signatures, using digital signature services, how to use tokens…, please call fdiinvietnam.com at  0978 578 866 (North) ,  033 9962 333 (Central)  or  033 9962 333 (South)  for support.

SOME FREQUENTLY ASKED QUESTIONS ABOUT DIGITAL SIGNATURES

Call us at  0978 578 866 (North) ,  033 9962 333 (Central)  or  033 9962 333 (South)  for support.