"Michael" == Michael Froomkin <froomkin@law.miami.edu> writes:
Michael> i would like to propose the following radical idea: Chaumian Michael> digicash is a nice curiosity. The future in the mdeium term Michael> (10+ years) for better or worse belongs to Mondex. Michael> Comments? Mondex keeps their protocols confidential. Not so good to establish trust in the system. I also heart _rumours_, that several things went wrong in their current field-test. Reminds me that I should go after these rumors. Additionally several banks begin to establish their own e-cash systems. E.g. in Germany from 1st January 1997 on nearly every bank-customer will have an electronic-purse. The main problem with e-cash proposed by Chaum et al. is that current SmartCards are not powerful enough to handle the needed computation in a timely fashion. The purse proposed by the german banks you have a simple counter on your SmartCard. With this system you _must_ have identification of payer and payee to clear malfunctions or frauds by either party. Bye! Michael Deindl