Financial Cryptography in 7 Layers

Financial Cryptography is substantially complex, requiring skills drawn from diverse and incompatible, or at least, unfriendly, disciplines. Caught between Central Banking and Cryptography, or between accountants and programmers, there is a grave danger that efforts to construct Financial Cryptography systems will simplify or omit critical disciplines. This paper presents a model that seeks to encompass the breadth of Financial Cryptography (at the clear expense of the depth of each area). By placing each discipline into a seven layer model of introductory nature, where the relationship between each adjacent layer is clear, this model should assist project, managerial and requirements people. Whilst this model is presented as efficacious, there are limits to any model. This one does not propose a methodology for design, nor a checklist for protocols. Further, given the young heritage of the model, and of the field itself, it should be taken as a hint of complexity rather than a defining guide.