DigiCash
Founded | 1989 |
---|---|
Founder | David Chaum |
Defunct | 1998 |
DigiCash Inc. was an
History
David Chaum is associated with the invention of Blind Signature Technology. In 1982, while studying at the
Technology
DigiCash was a form of early electronic payment, which required user software to withdraw notes from a bank and designate specific encrypted keys before it can be sent to a recipient. This advancement of public and private key cryptography allows electronic payments to become untraceable by the issuing bank, the government, or a third party. This system of Blind Signatures through DigiCash software improved security for its users through the issuance of secured keys, which prevented third parties from accessing personal information through online transactions. The Mark Twain Bank, later acquired by Mercantile bank, located in Missouri was the only U.S. bank that supported DigiCash systems. Deutsche Bank, based in Germany, was the second backing bank of DigiCash systems.[7]
Bankruptcy
DigiCash was unable to grow the company successfully through the expansion of its user base. Chaum stated in an interview in 1999 that the DigiCash project, and its technology system, entered the market before e-commerce was fully integrated within the Internet.
See also
References
- ISBN 978-1-4757-0604-8.
- ^ Pitta, Julie (1999/11/01). Requiem for a Bright Idea - Forbes
- ^ "In Brief: InfoSpace Buys eCash Technologies". American Banker. 2002-03-01. Retrieved 2021-03-18.
- ^ Blind Signatures for Untraceable Payments," D. Chaum, Advances in Cryptology Proceedings of Crypto 82, D. Chaum, R.L. Rivest, & A.T. Sherman (Eds.), Plenum, pp. 199-203.
- ^ Chaum, David. "Security Without Identification: Transaction Systems To Make Big Brother Obsolete". Communications of the ACM 28.10 (1985): 1030-1044. Web.
- ^ "eCash: Overview, Rise and Fall". Investopedia. Retrieved 2023-09-25.
- ^ https://web.archive.org/web/20220817175828/https://chaum.com/wp-content/uploads/2022/01/05-07-96-DigiCash_s-Ecash%E2%84%A2-to-be-Issued-by-Deutsche-Bank.pdf [bare URL PDF]
- ^ Brodesser, Jens-Ingo. "First Monday Interviews: David Chaum." First Monday [Online], 4.7 (1999): n. pag. Web. 8 Jun. 2016
- ^ Pitta, Julie. "Requiem for a Bright Idea." Forbes. N.p., 1 Nov. 1999. Web. 5 May 2016.
- ^ Pentland, Alex 'Sandy'. "Digital cash and privacy: What are the alternatives to Libra?". MIT Media Lab. Retrieved 2019-12-30.