Security without identification: transaction systems to make big brother obsolete
Communications of the ACM
NetCash: a design for practical electronic currency on the Internet
CCS '93 Proceedings of the 1st ACM conference on Computer and communications security
CRYPTO '88 Proceedings of the 8th Annual International Cryptology Conference on Advances in Cryptology
Provably Secure Blind Signature Schemes
ASIACRYPT '96 Proceedings of the International Conference on the Theory and Applications of Cryptology and Information Security: Advances in Cryptology
PayWord and MicroMint: Two Simple Micropayment Schemes
Proceedings of the International Workshop on Security Protocols
NetCard - A Practical Electronic-Cash System
Proceedings of the International Workshop on Security Protocols
ASIACRYPT '96 Proceedings of the International Conference on the Theory and Applications of Cryptology and Information Security: Advances in Cryptology
Electronic cash on the Internet
SNDSS '95 Proceedings of the 1995 Symposium on Network and Distributed System Security (SNDSS'95)
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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 transaction 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.