Strong-crypto smart cards in Singapore and Germany

[Ulf Möller]

Peter Gutmann writes:

>The standardisation committee of the German banks have also produced
>an electronic wallet which should have 25 million (yes, 25M) users by
>January of next year.  Again, this is a pure electronic wallet, with
>2-key triple DES and 768-bit (to become 1024-bit) RSA encryption.
>[...] This looks like a very nice system, and unlike Mondex doesn't
>rely entirely on the hope that criminals can't get at the data on the
>card.

For 'security reasons', all transactions are logged in what is called
'shadow accounts'. Not what I would call a very nice system.