An Optimistic Fair Exchange Protocol for Trading Electronic Rights

  • Masayuki Terada
  • Makoto Iguchi
  • Masayuki Hanadate
  • Ko Fujimura
Conference paper
Part of the IFIP International Federation for Information Processing book series (IFIPAICT, volume 153)


Reliable electronic commerce systems must offer fairness. In this paper, we propose a fair exchange protocol for trading electronic vouchers, which are the representation of rights to claim goods or services. This protocol enables two players to exchange vouchers stored in their smartcards fairly and efficiently. The players can exchange vouchers through a 4-round mutual communication protocol between their smartcards as long as the protocol is performed properly. If the protocol becomes unable to proceed due to misbehavior of the partner or for any other reason, the player that has fallen into the unfair condition (i.e. the player who sent its voucher but didn’t receive the desired voucher) can recover fairness by performing a recovery protocol with a trusted third-party. Since the recovery protocol doesn’t need the cooperation of the partner, fairness can be recovered without identifying or tracking the partner; one can trade vouchers securely even if the trading partner cannot be identified.


Trading Partner Replay Attack Fair Exchange Recovery Protocol Trading Electronic 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer Science + Business Media, Inc. 2004

Authors and Affiliations

  • Masayuki Terada
    • 1
  • Makoto Iguchi
    • 2
  • Masayuki Hanadate
    • 2
  • Ko Fujimura
    • 2
  1. 1.Network Management Development Dept.NTT DoCoMoUSA
  2. 2.Information Sharing Platform Labs.NTTUSA

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