SubDAO officially released the PolkaSign product development plan, aiming to provide electronic protocols in the form of Web 3.0 to replace the system in Web 2.0. This article will introduce PolkaSign in detail from multiple perspectives.
PolkaSign is a Web3.0 application for electronic protocols built on the Polkadot ecosystem. PolkaSign uses the Substrate Framework based on the SubDAO network to develop, can be replaced with any Substrate-based chain, and provides services for any type of organization with electronic agreements.
Electronic Agreement Platform Based on PolkaSign
Electronic agreements have widely applied to current social and commercial activities. Although benefiting the human world is one of the achievements, it can not be denied that the issues have been exposed with more and more applications. Stored on the centralized system, fraud and tampering with the agreement, etc. have severely threatened the security.
PolkaSign occurs to provide a solution for the current issues. Anyone can sign an electronic agreement with whoever he/she wants with PolkaSign. To sign an electronic agreement, users just need to upload the agreement document, and sign it in PolkaSign, then share the link to the co-signer.
Integrated with the technology of blockchain and decentralized storage, PolkaSign provides a reliable electronic agreement platform. Many projects provide the storage for the agreement files such as IPFS, Swarm, or Crust in the Polkadot ecosystem based on the decentralized storage system. However, PolkaSign is doing different things. All details including signature, signer, agreement files list, etc. of the agreement is written with smart contract on blockchain, but this is not the only function for PolkaSign. The PolkaSign provides a dapp to handle agreement files(PDF only), co-signer, and links, to interact with decentralized storage and smart contracts on the blockchain. The smart contracts of PolkaSign are based on ink! and any substrate-based chain can adopt these smart contracts easily.
Workflow of PolkaSign
We invite two users, Alice and Bob, to help us to show the workflow of the PolkaSign. The main task is that Alice wants to sign an agreement with Bob
- Alice compiles an electronic agreement with the PolkaSign, making the electronic agreement files are stored in the decentralized storage system.
- Then Alice adds Bob’s wallet address as co-signer and signs the contract with her private key.
- Alice shares the information of agreement with Bob.
- When Bob launches the PolkaSign with his wallet, he will find the very agreement waiting for him to sign. Everything is done when Bob approves and signs the agreement sent from Alice in PolkaSign.
Design layout and User Guide
The home page shows the list of agreements in different statuses. The current waiting for signing agreements will be displayed as default, and users can switch the list by tabs or filter button in the left panel. The agreement file info, the status, and the progress of the agreement are shown in the detailed info of each agreement. The draft design of PolkaSign is shown below.
There are only three steps to create an agreement. The first step is to upload the PDF agreement files. The files will be signed and stored in the decentralized storage system.
The second step is to add co-signers. Add any number of co-signers by filling in their wallet addresses. PolkaSign JS will check the addresses.
The last step is to review the contract. When everything is ready, sign it with your wallet and share the link with co-signers.
SubDAO planned two major versions.
Version 1: The goal of the first version is to provide a usable PolkaSign, the users can upload PDF agreement files and co-sign with other signers. It contains the features of store agreement files in decentralized storage, sign contracts with smart contracts, sharing the contracts waiting for a sign.
Version 2: The goal of the second version is to provide a common PolkaSign for other substrate chains. SubDAO will co-work with other chains to integrate PolkaSign.
Check the Github MD document for more details：https://github.com/SubDAO-Network/Grants-Program/blob/master/applications/SubDAO_PolkaSign.md
SubDAO is a DAO infrastructure based on Polkadot, where any decentralized organization is allowed to conveniently create and manage a DAO. SubDAO does not only connect DAO with DApps to realize DAO’s cross-chain management but also bridges Web 2.0 and Web 3.0.
The founding team of SubDAO is composed of the former Technical Team leader of the IBM Group and many early well-known developers from Polkadot. All team members own rich experiences in Internet companies such as IBM, Tencent, and Alibaba. Jack Platts, former Director of External Cooperation of the Web3 Foundation and Partner of Hypersphere Ventures, serves as a strategic contributor to SubDAO. So far SubDAO has completed multi-million dollar financing including Hypersphere, Huobi Ventures, and other institutions.