From: hughes@ah.com (Eric Hughes)
Date: Tue, 19 Apr 94 11:17:58 PDT
To: cypherpunks@toad.com
Subject: CRYPTO: Money laundering and traceability
In-Reply-To: <199404191626.JAA05318@jobe.shell.portal.com>
Message-ID: <9404191810.AA03630@ah.com>
MIME-Version: 1.0
Content-Type: text/plain


>Chaum's arguments appear to apply to virtually any electronic cash
>system which can prevent double-spending.  They suggest that traceable
>cash will be the rule in any digicash system.  

That's true for transferable and off-line cash systems.  The same
argument doesn't hold for on-line systems.  There you can have an
exchange protocol to deposit a piece of digicash and immediately
rewithdraw it, blinding it again in the process.  There need be no
account with the bank for this to happen.

Eric