Loss-tolerance for electronic wallets

Abstract

Assuming the existence of tamper-resistant devices with computational power and storage capacity similar to those of PCs and secure cryptosystems, the authors present loss tolerance schemes that leave the security, autonomy, and untraceability of the basic payment system that uses electronic wallets almost unchanged. These schemes are the distributed account list protocol and the marked standard value (MSV) protocol. The two schemes are compared. It is noted that more important than the problem of loss tolerance is that of constructing really secure temperature resistant devices.<>