Electronic cash implementing method with a surveillance institut

Details Electronic cash implementing method with a surveillance institut Electronic cash implementing method with a surveillance institut

1997-05-13

1999-12-21

Hajec, Donald

Registers

Systems controlled by data bearing records

Banking systems

235385, 705 34, 380 24, 902 39, G06F 1760

Patent

active

060037652

ABSTRACT:
A method for implementing an electronic cash system with a surveillance institution, in which a user sends a request for the issuance of electronic cash of a face value X to a bank together with user information U and a user signature verification key N.sub.U, and the bank stores a pair of data X and N.sub.U in the user database in correspondence with the user information U and sends the pair of data to the surveillance institution, while at the same time the bank generates and sends a signature S.sub.B (X,N.sub.U) for the data (X,N.sub.U) to the user. The surveillance institution registers the data (X,N.sub.U) in a surveillance database in correspondence with the total amount of payments Y. The user sends to a shop the amount of payment y, the face value X, the signature verification key N.sub.U and the signature S.sub.B (X,N.sub.U), along with a signature S.sub.U (e,y) for challenge information e received from the shop. The shop verifies the signatures S.sub.B (X,N.sub.U) and S.sub.U (e,y) and, if they are valid, receives a payment with the electronic cash.

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