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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