[fc-discuss] Financial Cryptography Update: On Digital Cash-like Payment Systems
David Alexander Molnar
dmolnar at EECS.berkeley.EDU
Thu Oct 20 16:43:08 EDT 2005
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
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