X-Cash: Executable digital cash

Extended abstract
  • Markus Jakobsson
  • Ari Juels
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 1465)

Abstract

In this paper, we propose a new financial instrument known as executable digital cash, or X-cash. X-cash is a means of binding an offer to the accompanying goods or payment, enabling the processes of searching and paying to be unified. The result is a mechanism by which electronic trades can occur in a highly distributed setting with strong security guarantees. When a party receives an X-cash offer, he or she can verify that it is bona fide and can initiate a trade immediately, without contacting the originator directly. X-cash may therefore be used, among other things, to enable mobile agents to carry funds and make payments on-site without running the risk of ”pick-pocketing”. In this paper, we introduce X-cash, describe some variants, and sketch proofs of its security properties.

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Copyright information

© Springer-Verlag 1998

Authors and Affiliations

  • Markus Jakobsson
    • 1
  • Ari Juels
    • 2
  1. 1.Information Sciences Research CenterBell LaboratoriesMurray Hill
  2. 2.RSA LaboratoriesBedford

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