Anand, Sai R and Madhavan, Veni CE (2000) An online, transferable E-cash payment system. In: Progress in Cryptology - INDOCRYPT 2000. First International Conference in Cryptology in India. Proceedings, 10-13 Dec. 2000, Calcutta, India, pp. 93-103.
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Abstract
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. 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
Item Type: | Conference Paper |
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Publisher: | Springer-Verlag |
Additional Information: | Copyright of this article belongs to Springer-Verlag |
Keywords: | online payment system;E cash;electronic cash;electronic coin;double spending;verification;dispute resolution;anonymity;transferability;electronic money;security of data |
Department/Centre: | Division of Electrical Sciences > Computer Science & Automation |
Date Deposited: | 07 Aug 2007 |
Last Modified: | 08 Sep 2011 06:42 |
URI: | http://eprints.iisc.ac.in/id/eprint/10413 |
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