Electronic Cash is a self-authenticating digital payment instrument that can be stored in an electronic wallet (or electronic purse) just like traditional cash is stored in a traditional wallet. Electronic cash is a sort of pre-paid electronic payment, i.e., payers withdraw electronic cash from their bank accounts prior to making a purchase and payment. To make a payment the payer simply passes the required amount of electronic cash to the payee. The payee is not referred to any bank account of the payer.
Like electronic payment schemes in general, electronic cash schemes shall satisfy the following security requirements:
Payment authorization: Electronic cash typically comes in the form of electronic coins of various face values, which have attached a digitalsignature by the issuing bank. Any payee can immediately verify the validity of such elecronic coins by checking them against the public verifying key of the respective issuing bank.
No counterfeiting:The overall value of all...
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References
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Bleumer, G. (2005). Electronic Cash. In: van Tilborg, H.C.A. (eds) Encyclopedia of Cryptography and Security. Springer, Boston, MA . https://doi.org/10.1007/0-387-23483-7_121
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