Re:The Ecash Act
by giaour on Tuesday March 29, 2022 @12:40PM
(#30844908)
I get that it's better (from the victim's perspective) to have to deal with fraudulent credit card transactions, but I don't get the difference from the point of view of the fraudster. If anything, breaking Apple Pay would be better than cracking a hardware wallet containing ecash, since someone's credit limit on the linked cards would generally be greater than the amount of cash they have on hand.
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If you break Apple Pay on your device, you can essentially get... your own credit card number. If you break open an e-$100 bill you get as many copies of that hundred dollars as you can spend before getting caught.
Ah, I thought you were talking about the individual holder's risk of theft, not the system's risk of counterfeiting.
My understanding from the article is that the TPM would be used to prevent theft, and counterfeiting would be prevented by something like RSA blind signatures (e.g., http://www.hit.bme.hu/~buttyan/courses/BMEVIHIM219/2009/Chau...)