Year-end Sale % OFF 
Abstract
Digital cash is a form of money that is stored digitally. Its main advantage when compared to traditional credit or debit cards is the possibility of carrying out anonymous transactions. Diverse digital cash paradigms have been proposed during the last decades, providing different approaches to avoid the double-spending fraud, or features like divisibility or transferability. This paper presents a new digital cash paradigm that includes the so-called no-valued e-coins, which are e-coins that can be generated free of charge by customers. A vendor receiving a payment cannot distinguish whether the received e-coin is valued or not, but the customer will receive the requested digital item only in the former case. A straightforward application of bogus transactions involving no-valued e-coins is the masking of consumption patterns. This new paradigm has also proven its validity in the scope of privacy-preserving pay-by-phone parking systems, and we believe it can become a very versatile building block in the design of privacy-preserving protocols in other areas of research. This paper provides a formal description of the new paradigm, including the features required for each of its components together with a formal analysis of its security.
Highlights
The European Commission defines digital cash as a digital alternative to cash
This paper provides a formal description of a new digital cash paradigm, which enables customers to issue no-valued e-coins
This paper has presented a novel digital cash paradigm in which customers are able to generate no-valued e-coins by themselves
Summary
The European Commission defines digital cash ( referred to as e-money or e-cash) as a digital alternative to cash. In [1], upon receiving a payment, the payee asks the bank to check that the received e-coin has not been spent before This is an on-line double-spending fraud prevention strategy. Modern approaches to digital cash aim to avoid the need for a trusted central entity This is achieved through the existence of a distributed public ledger storing a record of all the transactions. Attempts to develop a full cash-like digital payment system which is both anonymous, off-line, and secure against double-spending have been forced to include some trusted hardware element This is the case for the OPERA system [15], which requires a new concept of memory called ORM (one-time-readable memory). This paper provides a formal description of a new digital cash paradigm, which enables customers (the payers) to issue no-valued e-coins.
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
