A Digital Currency Architecture for Privacy and Owner-Custodianship

نویسندگان

چکیده

In recent years, electronic retail payment mechanisms, especially e-commerce and card payments at the point of sale, have increasingly replaced cash in many developed countries. As a result, societies are losing critical public option, consumers important rights associated with using cash. To address this concern, we propose an approach to digital currency that would allow people without banking relationships transact electronically privately, including both purchases point-of-sale required be cashless. Our proposal introduces government-backed, privately-operated infrastructure ensure every transaction is registered by bank or money services business, it relies upon non-custodial wallets backed privacy-enhancing technology, such as blind signatures zero-knowledge proofs, counterparties not revealed. can also facilitate more efficient transparent clearing, settlement, management systemic risk. We argue our system restore preserve salient features cash, privacy, owner-custodianship, fungibility, accessibility, while preserving fractional reserve existing two-tiered system. show possible introduce regulation transactions involving unconditionally protect privacy end-users.

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ژورنال

عنوان ژورنال: Future Internet

سال: 2021

ISSN: ['1999-5903']

DOI: https://doi.org/10.3390/fi13050130