Re:The Ecash Act
by michaelt on Tuesday March 29, 2022 @11:49AM
(#30844142)
> In contrast to ledger-based systems (including those that use a blockchain and/or distributed-ledger rather than a centralized ledge), which prevent double-spending by verifying unspent balances against a common record of all previous transactions, e-cash devices verify funds locally via a dedicated or trusted computing environment located on the device itself.
This document is admirably clear about what they're attempting to provide!
But I can't help but think this requirement is very demanding - most stored value cards these days are for small amounts, and can mirror transactions to a central database, if they suspect cards are being tampered with.
There are a handful of devices that are hardened against tampering by the person who possesses them (game console antipiracy features, iphone activation lock) - but most of them took several attempts to get right.
This document is admirably clear about what they're attempting to provide!
But I can't help but think this requirement is very demanding - most stored value cards these days are for small amounts, and can mirror transactions to a central database, if they suspect cards are being tampered with.
There are a handful of devices that are hardened against tampering by the person who possesses them (game console antipiracy features, iphone activation lock) - but most of them took several attempts to get right.