NewCash - Anonymous Digital Cash with Receipts

Since electronic cash was first introduced by David Chaum in 1982, a number of electronic cash systems have been proposed. Some of the systems are directly targeted at the Internet, whose widespread use has made it a seemingly ideal infrastructure for a global consumer marketplace. On the Internet, online protocols, that is protocols where payments are verified in real time over the network, provide a good way of implementing electronic payment infrastructure. The key proposals for such a system are the online electronic cash system based on Chaum’s Blind Signature technology, such as ecash, and NetCash. In this paper, we propose an online cash system for the Internet that is using a simple new set of protocols. “It provides some features of the blind signature based electronic cash system by Chaum, as well as some features of NetCash. At the same time, it overcomes some of the shortcomings of the NetCash system and accomplishes anonymity with receipts for the payer, without the use of blind signature technology.