Advertisement

Towards multiple-payment schemes for digital money

  • H. Pagnia
  • R. Jansen
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 1318)

Abstract

Recently, many payment schemes for digital money have been proposed. In most of these schemes money can be spent only once and must then immediately be returned to the bank. The purpose of this paper is to show the advantages of a scheme which allows the recipient of the money to use it directly for further purchases. We discuss why most existing schemes do not support such a payment scheme and make a proposal of how to overcome this drawback. Furthermore, we address the problem of achieving a fair exchange of money against service between the customer and the vendor. Few solutions to this problem have been published and all involve a trusted third party which actively supports the exchange. Using such a trustee has the disadvantage that — for high transaction rates — he easily constitutes a bottleneck. We present an alternative solution based on a `passive' trustee thereby avoiding the former disadvantage.

Keywords

Payment Scheme Fair Exchange Payment Transaction Anonymity Server Legitimate Owner 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. 1.
    S. Brands. Untraceable Off-line Cash in Wallets with Observers. In Proceedings of Crypto 93, pages 302–318, 1993.Google Scholar
  2. 2.
    Jan Camenisch, Jean-Marc Piveteau, and Markus Stadler. Fair Anonyme Zahlungssysteme. In GISI 95-Herausforderungen eine globalen Informationsverbundes für die Informatik, Informatik aktuell, pages 254–265. Springer Verlag, 1995.Google Scholar
  3. 3.
    D. Chaum, A. Fiat, and M. Naor. Untraceable Electronic Cash. Advances in Cryptology-CRYPTO '88, Lecture Notes in Computer Science, 403:319–327, 1990.Google Scholar
  4. 4.
    D. Chaum and T.P. Pedersen. Transferred Cash Grows in Size. In Advances in Cryptology Eurocrypt '92, pages 89–105. Springer-Verlag, 1992.Google Scholar
  5. 5.
    CitiBank and S. S. Rosen. Electronic Monetary System. US Patent Nr. 05453601, Sept. 1995.Google Scholar
  6. 6.
    CitiBank and S. S. Rosen. Trusted agents for open electronic commerce. US Patent Nr. 05557518, Sept. 1996.Google Scholar
  7. 7.
    DigiCash. World's First Electronic Cash Payment over Computer Networks. Press Release, May 27th 1994.Google Scholar
  8. 8.
    N. Ferguson. Extensions of single-term Coins. In Proceedings of Crypto 93, pages 292–301, 1993.Google Scholar
  9. 9.
    S. Glassman and M. Manasse et al. The Milicent Protocol for Inexpensive Electronic Commerce. In Proc. of the 4th International World Wide Web Conference, December 1995.Google Scholar
  10. 10.
    H. Bürk and A. Pfitzmann. Value Exchange Systems Enabling Security and Unobservability. Computers & Security, 9(8):715–721, 1990.Google Scholar
  11. 11.
    R. Hauser, M. Steiner, and M. Waidner. Micro-Payments based on iKP Technical report, IBM Research Division, Zürich Research Laboratory, 8803 Rüschlikon, Switzerland, January 1996. URL: http://www.zurich.ibm.com/Technology/Security/publications/1996/HSW96.ps.gz.Google Scholar
  12. 12.
    M. Jakobsson and M. Young. Ripping Coins for a Fair Exchange. In Eurocrypt '95, pages 220–230, 1995.Google Scholar
  13. 13.
    M. Jakobsson and M. Young. Revokable and Versatile Electronic Money. In 3rd ACM Conference on Computer and Communications Security, pages 76–87. ACM, 1996.Google Scholar
  14. 14.
    G. Medvinsky and B.C. Neuman. NetCash: A design for practical electronic currency on the Internet. In Proc. of the First ACM Conference on Computer and Communications Security, November 1993.Google Scholar
  15. 15.
    Mondex. Home Page. URL: http://www.mondex.com/, 1996.Google Scholar
  16. 16.
    H. Pagnia, C. Liebig, and O. Theel. Mutual Trust between Customers and Providers of Distributed Services. In Proc. of the IASTED International Conference on Networks, January 1996.Google Scholar
  17. 17.
    T.P. Pedersen. Electronic Payments of Small Amounts. Technical Report DAIMI-PB-495, Aarhus University, Computer Science Department, August 1995.Google Scholar
  18. 18.
    R.L. Rivest and A. Shamir. PayWord and MicroMint: Two simple micropayment schemes. Technical report, MIT Laboratory for Computer Science, 545 Technology Square, Cambridge, Mass. 02139, May 1996.Google Scholar
  19. 19.
    M. Sirbu and J.D. Tygar. NetBill: An Internet Commerce System Optimized for Network Delivered Services. In IEEE Compcon '95, March 1995.Google Scholar

Copyright information

© Springer-Verlag Berlin Heidelberg 1997

Authors and Affiliations

  • H. Pagnia
    • 1
  • R. Jansen
    • 1
  1. 1.Darmstadt University of TechnologyDarmstadtGermany

Personalised recommendations