Skip to main content
SpringerLink
Log in

Conditional E-Cash

  • Conference paper
Financial Cryptography and Data Security (FC 2007)

Part of the book series: Lecture Notes in Computer Science ((LNSC,volume 4886))

Included in the following conference series:

Abstract

We introduce a novel conditional e-cash protocol allowing future anonymous cashing of bank-issued e-money only upon the satisfaction of an agreed-upon public condition. Payers are able to remunerate payees for services that depend on future, yet to be determined outcomes of events. Once payment complete, any double-spending attempt by the payer will reveal its identity; no double-spending by the payee is possible. Payers can not be linked to payees or to ongoing or past transactions. The flow of cash within the system is thus both correct and anonymous. We discuss several applications of conditional e-cash including online trading of financial securities, prediction markets, and betting systems.

The original version of this chapter was revised: The copyright line was incorrect. This has been corrected. The Erratum to this chapter is available at DOI: 10.1007/978-3-540-77366-5_37

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 39.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 54.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Intrade: A trade exchange network company, http://www.intrade.com/

  2. Iowa electronic markets, http://www.biz.uiowa.edu/iem/

  3. Iowa health prediction market, http://fluweb.biz.uiowa.edu/fluhome/index.html

  4. Newsfutures, http://us.newsfutures.com/home/home.html

  5. Strategy page, http://www.strategypage.com/prediction_market/default.asp

  6. Tradesports, http://www.tradesports.com/

  7. Arrow, K.J., Debreu, G.: The existence of an equilibrium for a competitive economy. Econometrica 22 (1954)

    Google Scholar 

  8. Balasko, Y.: Foundations of the Theory of General Equilibrium (1986)

    Google Scholar 

  9. Blake, I.F., Chan, A.C.F.: Scalable, server-passive, user-anonymous timed release cryptography. In: ICDCS 2005. Proceedings of the 25th IEEE International Conference on Distributed Computing Systems, Washington, DC, USA, pp. 504–513. IEEE Computer Society, Los Alamitos (2005)

    Google Scholar 

  10. Camenisch, J., Maurer, U.M., Stadler, M.: Digital payment systems with passive anonymity-revoking trustees. In: Martella, G., Kurth, H., Montolivo, E., Bertino, E. (eds.) ESORICS 1996. LNCS, vol. 1146, pp. 33–43. Springer, Heidelberg (1996)

    Google Scholar 

  11. Cathalo, J., Libert, B., Quisquater, J.-J.: Efficient and non-interactive timed-release encryption. In: Qing, S., Mao, W., Lopez, J., Wang, G. (eds.) ICICS 2005. LNCS, vol. 3783, pp. 291–303. Springer, Heidelberg (2005)

    Chapter  Google Scholar 

  12. Chaum, D.: Blind signatures for untraceable payments. In: Advances in Cryptology— Proceedings of Crypto 1982, pp. 199–203. Plenum Press (1982)

    Google Scholar 

  13. Chaum, D.: Security without identification: transaction systems to make big brother obsolete. Communications of the ACM 28(10), 1030–1044 (1985)

    Article  Google Scholar 

  14. Chaum, D.: Privacy protected payments: Unconditional payer and/or payee untraceability. In: Proceedings of SmartCard 2000 (1988)

    Google Scholar 

  15. Chaum, D., Fiat, A., Naor, M.: Untraceable electronic cash. In: Goldwasser, S. (ed.) CRYPTO 1988. LNCS, vol. 403, pp. 319–327. Springer, Heidelberg (1990)

    Chapter  Google Scholar 

  16. Davida, G.I., Frankel, Y., Tsiounis, Y., Yung, M.: Anonymity control in e-cash systems. In: FC 1997. LNCS, vol. 1318, pp. 1–16. Springer, Heidelberg (1997)

    Chapter  Google Scholar 

  17. Dingledine, R., Mathewson, N., Syverson, P.: Tor: The second-generation onion router. In: Proceedings of the 13th USENIX Security Symposium (2004)

    Google Scholar 

  18. Dodis, Y., Yum, D.H.: Time capsule signature. In: Patrick, A.S., Yung, M. (eds.) FC 2005. LNCS, vol. 3570, pp. 57–71. Springer, Heidelberg (2005)

    Chapter  Google Scholar 

  19. Frankel, Y., Tsiounis, Y., Yung, M.: ”indirect discourse proof”: Achieving efficient fair off-line e-cash. In: Kim, K.-c., Matsumoto, T. (eds.) ASIACRYPT 1996. LNCS, vol. 1163, pp. 286–300. Springer, Heidelberg (1996)

    Chapter  Google Scholar 

  20. Franklin, M.K., Yung, M.: Secure and efficient off-line digital money (extended abstract). In: Lingas, A., Carlsson, S., Karlsson, R. (eds.) ICALP 1993. LNCS, vol. 700, pp. 265–276. Springer, Heidelberg (1993)

    Google Scholar 

  21. Kiviat, B.: The end of management? Time - Inside Business, http://www.time.com/time/insidebiz/printout/0,8816,1101040712-660965,00.html

  22. Stadler, M., Piveteau, J.-M, Camenisch, J.: Fair blind signatures. In: Guillou, L.C., Quisquater, J.-J. (eds.) EUROCRYPT 1995. LNCS, vol. 921, pp. 209–219. Springer, Heidelberg (1995)

    Chapter  Google Scholar 

  23. Samuelson, P.A.: Foundations of Economic Analysis. Harvard University Press (1947)

    Google Scholar 

  24. Saporito, B.: Place your bets! Time, http://www.time.com/time/magazine/article/0,9171,1118373,00.html

  25. Schneier, B.: Applied Cryptography: Protocols, Algorithms and Source Code in C. Wiley & Sons, Chichester (1996)

    MATH  Google Scholar 

  26. Simon, D.R.: Anonymous communication and anonymous cash. In: Koblitz, N. (ed.) CRYPTO 1996. LNCS, vol. 1109, pp. 61–73. Springer, Heidelberg (1996)

    Google Scholar 

  27. Waldman, M., Rubin, A.D., Cranor, L.F.: Publius: A robust, tamper-evident, censorship-resistant, web publishing system. In: Proc. 9th USENIX Security Symposium, pp. 59–72 (August 2000)

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Network Security and Applied Cryptography Lab Computer Science, Stony Brook University, USA

    Radu Sion

  2. Pervasive Platforms and Architectures, Motorola Labs, USA

    Larry Shi & Bogdan Carbunar

Authors
  1. Larry Shi
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Bogdan Carbunar
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Radu Sion
    View author publications

    You can also search for this author in PubMed Google Scholar

Editor information

Editors and Affiliations

  1. Software Engineering Institute, Carnegie Mellon University, 4500 Fifth Avenue, 15213, Pittsburgh, PA, USA

    Sven Dietrich

  2. CRCS DEAS, Harvard University, Maxwell Dworkin 110, 33 Oxford Street, 02138, Cambridge, MA, USA

    Rachna Dhamija

Rights and permissions

Reprints and permissions

Copyright information

© 2007 Springer-Verlag Berlin Heidelberg

About this paper

Cite this paper

Shi, L., Carbunar, B., Sion, R. (2007). Conditional E-Cash. In: Dietrich, S., Dhamija, R. (eds) Financial Cryptography and Data Security. FC 2007. Lecture Notes in Computer Science, vol 4886. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-77366-5_3

Download citation

  • DOI: https://doi.org/10.1007/978-3-540-77366-5_3

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-77365-8

  • Online ISBN: 978-3-540-77366-5

  • eBook Packages: Computer ScienceComputer Science (R0)

Publish with us

Policies and ethics

Search

Navigation