anonymity and e-cash

[Mark M.]

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On 12 Feb 1997 janke at unixg.ubc.ca wrote:

> It's not too hard: The payee forwards a blinded, non-signed coin
> to the payer. The payer has the bank sign this, and then returns
> it to the payee who strips out the blinding factor.

This is correct except for the fact that the payer also has to apply a blinding
factor to the coin, thus making it a "double-blinded" coin.  It gets signed by
the bank, the payer divides the coin by the blinding factor and sends it to
the payee, who then strips out his blinding factor.  Ecash coins can also be
laundered making the above scheme mostly unnecessary.  Since most people will
probably not look upon fully anonymous ecash highly, laundering will be a more
popular option as it cannot be prevented.


Mark
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