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One of the most important considerations in the
growing online marketplace is the issue of security.
Teranet protects operations and customers' interests
through the use of Public Key Infrastructure technology.
Public Key Infrastructure is the comprehensive system
required to provide public-key encryption and digital signature
services.
Historically, encryption systems used symmetric cryptographic
technology to secure data. Both encryption and decryption were performed
by using the same digital key. Recently, cryptographic technology
has been enhanced with the invention of public key cryptography which
removes the need to use the same key for encryption and decryption.
Keys come in a matched pair of "public" and "private" keys. Data is encrypted
using the public key and can only decrypted using the private key.
Public Key Infrastructure technology uses both encryption and digital signatures to
provide:
- Confidentiality - Data cannot be read without
the corresponding key
- Authentication - Users can securely identify
themselves to other users and servers on a network without
sending secret information (i.e passwords) over the network
- Data Integrity - the verifier of a digital signature can
determine whether or not digitally signed data has
been altered since it was signed
- Non-repudiation - the user who signed data cannot deny signing
the data
Amendments to Ontario's Land Registration Reform Act have removed the requirement
for handwritten signatures and permit electronic
signatures. Clients equipped with a security
credential, which includes an encrypted digital signature, -
Personal Security Licence -
that uniquely identifies them, will be able to legally
sign and submit title documents for registration.
Securing Your Information contains more details on how the personal information you provide in the Personal Security License Application is used and protected.
An electronic audit trail identifying transaction activity and leading
back to the security credential further protects
the system.
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