An Online, Transferable E-Cash Payment System
- R. Sai AnandAffiliated withDepartment of Computer Science & Automation, Indian Institute of Science
- , C.E.Veni MadhavanAffiliated withDepartment of Computer Science & Automation, Indian Institute of Science
Most electronic cash (e-cash) based payment systems that have been proposed do not possess the property of transferability. Transferability in an e-cash based system means that when a payee receives an electronic coin in a transaction he may spend it without depositing the coin first and getting a new coin issued from a bank. Usually electronic coins that are transferred in a transaction have a lifetime of the trans-action itself. In this paper, we propose a payment system where coins can be transferred over multiple hands, spread over various transactions, similar to physical cash. Detection or prevention of double spending of coins is a critical issue in online e-cash payment systems. In our system the verification is distributed across multiple entities as opposed to the case of a coin-issuing entity or a central bank alone being responsible for the verification. A resolution mechanism for handling disputes is also presented. The proposed system provides guarantees of anonymity, fairness and transferability.
Key wordsE-cash Transferability Fairness Anonymity Double Spending.
- An Online, Transferable E-Cash Payment System
- Book Title
- Progress in Cryptology —INDOCRYPT 2000
- Book Subtitle
- First International Conference in Cryptology in India Calcutta, India, December 10–13, 2000 Proceedings
- pp 93-103
- Print ISBN
- Online ISBN
- Series Title
- Lecture Notes in Computer Science
- Series Volume
- Series ISSN
- Springer Berlin Heidelberg
- Copyright Holder
- Springer-Verlag Berlin Heidelberg
- Additional Links
- Double Spending.
- Industry Sectors
- Editor Affiliations
- 4. Indian Statistical Institute
- 5. Department of Computer Science, University of Wisconsin
- Author Affiliations
- 6. Department of Computer Science & Automation, Indian Institute of Science, Bangalore, India
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