CRYPTO: Money laundering and traceability
Eric Hughes
hughes at ah.com
Tue Apr 19 11:17:58 PDT 1994
>Chaum's arguments appear to apply to virtually any electronic cash
>system which can prevent double-spending. They suggest that traceable
>cash will be the rule in any digicash system.
That's true for transferable and off-line cash systems. The same
argument doesn't hold for on-line systems. There you can have an
exchange protocol to deposit a piece of digicash and immediately
rewithdraw it, blinding it again in the process. There need be no
account with the bank for this to happen.
Eric
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