D. Chaum Et Al. (Eds.), Advances in Cryptology © Springer Science+Business Media New York 1983
D. Chaum Et Al. (Eds.), Advances in Cryptology © Springer Science+Business Media New York 1983
D. Chaum Et Al. (Eds.), Advances in Cryptology © Springer Science+Business Media New York 1983
David Chaum
INTRODUCTION
Automation of the way we pay for goods and services is already
underway, as can be seen by the variety and growth of electronic
banking services available to consumers. The ultimate structure of
the new electronic payments system may have a substantial impact on
personal privacy as well as on the nature and extent of criminal use
of payments. Ideally a new payments system should address both of
these seemingly conflicting sets of concerns.
On the one hand, knowledge by a third party of the payee,
amount, and time of payment for every transaction made by an
individual can reveal a great deal about the individual's
whereabouts, associations and lifestyle. For example, consider
payments for such things as transportation, hotels, restaurants,
movies, theater, lectures, food, pharmaceuticals, alcohol, books,
periodicals, dues, religious and political contributions.
on the other hand, an anonymous payments systems like bank notes
and coins suffers from lack of controls and security. For example,
consider problems such as lack of proof of payment, theft of payments
media, and black payments for bribes, tax evasion, and black markets.
A fundamentally new kind of cryptography is proposed here, which
allows an automated payments system with the following properties:
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