Amboss on Nostr: Regulated Chaumian Ecash While the custodian of the Ecash won't know who initiates a ...

Regulated Chaumian Ecash

While the custodian of the Ecash won't know who initiates a transaction, the custodian is responsible for making the transaction happen.

What's the right risk policy for the custodian to implement?

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quoting
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Thought experiment:

- Be a completely regulated Ecash custodian
- KYC your customers as hard as you can
- Make them authenticate for every ecash transaction
- Log everything in your database
- Know how many users you have, and what their balance is

With all this, you can still have:

- Instant payments with zero fees
- Offline payments (no internet required for payer)
- Anonymous payers, authenticated receivers
- Programmable ecash (spending conditions)