BitMint Hard Wallet: Digital Payment without Network Communication : No Internet, yet Sustained Payment Regimen between Randomness-Verifiable Hard Wallets
{"title":"BitMint Hard Wallet: Digital Payment without Network Communication : No Internet, yet Sustained Payment Regimen between Randomness-Verifiable Hard Wallets","authors":"G. Samid","doi":"10.1109/IEMTRONICS51293.2020.9216456","DOIUrl":null,"url":null,"abstract":"Identity-bearing digital money (e.g. BitMint) can be paid in a private transaction between payor and payee without reliance on network authentication. The payee must trust that the paid digital coin is bona fide. Presenting a hard wallet (HW) to generate the required trust. Payment issued from the HW can be taken in by a second hard wallet, which will further pay to a third hard wallet, creating a payment ecology of digital money for long periods without the benefit of a communication network. Payment may be tethered to eventual terms of redemption. The hard wallet may be personalized -- fitted with ownership security capability. The HW may be engineered in conjunction with a smart phone, so people can use a single device as a phone and as an off-line wallet.","PeriodicalId":269697,"journal":{"name":"2020 IEEE International IOT, Electronics and Mechatronics Conference (IEMTRONICS)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"2020 IEEE International IOT, Electronics and Mechatronics Conference (IEMTRONICS)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1109/IEMTRONICS51293.2020.9216456","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 2
Abstract
Identity-bearing digital money (e.g. BitMint) can be paid in a private transaction between payor and payee without reliance on network authentication. The payee must trust that the paid digital coin is bona fide. Presenting a hard wallet (HW) to generate the required trust. Payment issued from the HW can be taken in by a second hard wallet, which will further pay to a third hard wallet, creating a payment ecology of digital money for long periods without the benefit of a communication network. Payment may be tethered to eventual terms of redemption. The hard wallet may be personalized -- fitted with ownership security capability. The HW may be engineered in conjunction with a smart phone, so people can use a single device as a phone and as an off-line wallet.