fairCASH - the first true digital cash solution

eWallets are electronic devices which are capable to store eCoins and transfer a selection of them to other eWallets. They “know” how to operate eCoins, and they communicate with the user to achieve their operation. Only authentic eWallets may communicate among each other. Before a value transfer from one eWallet to another can take place, mutual authentication is required. Certified eWallets are considered trusted. They execute the teleportation protocol, and they are hard to manipulate due to our nano-safe concept of tamper-protected sealed hardware.

Parts of a complete fairCASH eWallet.
Parts of a complete fairCASH eWallet.

This figure depicts the parts of an entire eWallet. Combining the nano-safe chip with external non-volatile memory (e.g. Flash) and a (wireless) input/output interface, a battery, and a housing results into a functional gadget. One goal of the eWallet concept is to provide a safe authentic environment for value transfer transactions done by:

  • the provision of endpoint-to-endpoint security for the teleportation process,
  • adding a facility of tamper-protected memory for the transferred value data,
  • the enforcement of the ITU-T recommendation X.509 PKI certification based trust model,
  • the implementation of our delayed-true two-party fair exchange protocol (fCCP).

eWallets can be applied internally or externally adding Digital Cash capability. We expect the external connection to other devices first, because this can be done without any physical changes to the host. This could be achieved for example by using Bluetooth to connect an eWallet to a Smartphone or to connect the eWallet to a computer as an USB device. Enjoying the networking effect, it can be expected that nano-safe chips will be integrated into host devices after having reached a critical mass, as it already happened with GPS system chips in most of contemporary Smartphones.

For both solutions we'll supply reference designs or „Off-the-shelf” developer kits, respectively.