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Re: digital cash and identity disclosure

>>>>> "Michael" == Michael Froomkin <[email protected]> writes:

Michael> i would like to propose the following radical idea: Chaumian
Michael> digicash is a nice curiosity.  The future in the mdeium term
Michael> (10+ years) for better or worse belongs to Mondex.

Michael> Comments?

Mondex keeps their protocols confidential.  Not so good to establish
trust in the system.

I also heart _rumours_, that several things went wrong in their
current field-test.  Reminds me that I should go after these rumors.

Additionally several banks begin to establish their own e-cash
systems.  E.g. in Germany from 1st January 1997 on nearly every
bank-customer will have an electronic-purse.

The main problem with e-cash proposed by Chaum et al. is that current
SmartCards are not powerful enough to handle the needed computation in
a timely fashion.

The purse proposed by the german banks you have a simple counter on
your SmartCard.  With this system you _must_ have identification of
payer and payee to clear malfunctions or frauds by either party.


Michael Deindl