SP'11 Proceedings of the 19th international conference on Security Protocols
Might financial cryptography kill financial innovation? --- the curious case of EMV
FC'11 Proceedings of the 15th international conference on Financial Cryptography and Data Security
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Eliminating middlemen from security protocols helps less than one would think. EMV electronic payments, for example, can be made fairer by adding an electronic attorney --- a middleman which mediates access to a customer's card. We compare middlemen in crypto protocols and APIs with those in the real world, and show that a man-in-the-middle defence is helpful in many circumstances. We suggest that the middleman has been unfairly demonised.