Are Digital Signatures in Blockchain Functionally Equivalent to Handwritten Signatures?

Digital signatures have different uses in a digital world, providing both identification of users and ensuring legal enforceability of digitally signed documents, making them legally binding for the signatories. Purpose of this paper is to reviewlegal aspects of electronic signature application in modern technologies such as on-line banking, DLT and digital lending. As the latter are already well-researched, we use the case of online lending as an illustrative example, yet all conclusions and findings are equally valid for digitally signed transactions and blocks in DLT, for transactions in on-line banking and for many other cases. We look at the challenges presented by the remote conclusion of loan contracts and whether they can be addressed by the usage of electronic signatures. The focus of the research is whether there are technological of procedural solutions that can be used to ensure functional equivalence of electronic and handwritten signatures. The findings may provide grounds for further research of DLT application in electronic signature sphere.