17 Dec
2003
17 Dec
'03
11:17 p.m.
Ray says:
No digicash system can possibly operate under this constraint. Mere numbers, unlike gold, can be duplicated. Without some sort of central verification involved the techniques cannot work. I suppose "true" digitcal cash by your definition is impossible.
Doesn't Chaum's "observer" based system allow digi-coins to work? (e.g. by carrying around copy protection which prevents you from 'cp'ing cash instead of 'mv'ing it, or prevention of double spending?)
Such a system would depend on people trying to break the system being unsophisticated. I do not believe you can rely on trick hardware to provide "copy protection" for digital coins. Perry