Why there is no anonymous e-cash

James A. Donald jamesd at echeque.com
Mon Jul 19 08:41:08 PDT 2004

As I predicted, transactions are increasingly going on line.

And as Hettinga predicted, the more anonymous and irreversible the 
transaction service, the cheaper and more convenient its services.  
All happening as predicted.

So why don't we have anonymous chaumian cash by now?

Because, the more anonymous and irreversible its services, the more 
fraudsters use it to convert other people's bank accounts, obtained 
by phishing, into usable money.

Why don't we have anonymous e-cash? - because IE and outlook express 
are full of massive security holes, and because people are idiots.  
Observe Tim May, who mistook e-gold phishing spam mail for the real 
thing.  Well, not so much that people are idiots, but that we still 
have not got a satisfactory security model that adequately 
accommodates human factors.

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