Electronic cash is actually a technology to simulate cash in electronic form. E-cash system attempts to copy the characteristics of cash for online transactions in many aspects: convenience, low cost (or no transaction cost). Anonymity and other attributes. However, not all electronic cash systems meet these characteristics, and most electronic cash systems can provide convenience for small online transactions.
Product introduction
E-commerce is a business activity conducted through the Internet, and a very critical requirement of e-commerce is to have a safe and efficient electronic cash system. Since D. Chaum[2] published the first paper on electronic cash system in 19 8 2, many research achievements have been made in the research of electronic cash system.
basic concept
The full name of electronic cash: electronic cash. Also known as electronic money or digital currency, it is a very important electronic payment system, which can be regarded as the electronic or digital simulation of real money. Electronic cash exists in the form of digital information and circulates through the Internet. But it is more convenient and economical than real money. Its simplest form includes three subjects: merchants, users and banks; And four security protocol processes: initialization protocol, withdrawal protocol, payment protocol and deposit protocol. Chaum put forward the first electronic cash scheme in 1982. It is implemented by blind signature technology, which can completely protect the privacy of users.
However, this completely anonymous electronic cash has also provided convenience for many criminals, who use its completely anonymity to carry out some illegal and criminal activities, such as corruption and illegal purchases (such as buying drugs and arms). ), extortion and so on. Even if the police get the stolen money, they can't catch the criminal. Therefore, a reasonable electronic cash system should be incomplete or conditionally anonymous. In 1995, Stadhle and others put forward the concept of fair blind signature, which can be used in conditional anonymous payment system.
In 1996, Camenisch et al. and Frankel et al. [5] independently put forward the concept of fair off-line electronic cash for the first time, and gave two schemes at the same time. The anonymity of users in fair electronic cash is incomplete, and it can be revoked by a trusted third party (TTP), thus using the complete anonymity of electronic cash to prevent criminal activities.
Electronic cash is a mature electronic payment method, which is suitable for small transactions paid through the network.
The characteristics of electronic cash:
1. There should be an agreement and authorization relationship between banks and merchants.
2. Users, merchants and electronic cash banks all need to use electronic cash software.
3. Electronic cash bank is responsible for the transfer of funds between users and merchants.
4. Electronic cash is anonymous to users, and the use of electronic cash can protect users' information.