[fc-discuss] Financial Cryptography Update: On Digital Cash-like Payment Systems

[David Alexander Molnar]

On Thu, 20 Oct 2005, cyphrpunk wrote:

> system without excessive complications. Only the fifth point, the
> ability for outsiders to monitor the amount of cash in circulation, is
> not satisfied. But even then, the ecash mint software, and procedures
> and controls followed by the issuer, could be designed to allow third
> party audits similarly to how paper money cash issuers might be
> audited today.

One approach, investigated by Hal Finney, is to run the mint on a platform 
that allows remote attestation. Check out rpow.net - he has a working 
implementation of a proof of work payment system hosted on an IBM 4758.

-David Molnar