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This invention describes a set of related procedures designed to co-operate with mints of digital money in order to allow for said money to be properly, securely, and conveniently traded by, various size and various type of trading crowds.
The procedures refer mainly to distribution of responsibility. This invention also specifies the construction of digital coins encapsulated in a physical housing to amount to off-line tradable digital coins. This application claims as priority date provisional applications filed by the same inventor: It also claims as reference U. Such digitally minted money needs to be engineered for efficient transactions. This invention addresses a host of complementary procedures and implements designed to facilitate effective, smooth, and trouble-free exchange of digitally encoded transactional value.
The invented procedures and implements may be categorized into two broad categories: BitMint designed on the basis if U. The hybrid coins are constructed for various denominations, for various safety options, and for various transactional environment. The mint arrays in this invention offer a variety of responsibility distribution between the core and front mint so that various financial and trading conditions cam be efficiently addressed.
In particular the ultimate responsibility to redeem bona fide digital money may be vested in the core mint or in various of the front mint, and perhaps in some combination. Taken together these invented procedures and implements provide for an effective implementation of the newly invented digital money solution, and their smooth and convenient deployment in a variety of trading situations. The newly emerging digital money mints require a careful design and construction of procedures and implements to allow for the digitally minted money to spread into the hands of the trading public.
Such procedures and implements are the subject of this invention. The Core BitMint projects to any number of front BitMint entities, and the relationship may be one or a mix of the following:. Each front mint may take the role of the Core, and project to its own front entities. In this way one may define a mint-tree hierarchy.
This relationship will allow front mint to be consistent with parameters and regulations prevailing in their domain, while enjoying technical and functional support from the Core BitMint. In this mode Front BitMints pay use royalties to the Core for using its technology, and no further relationship or obligation exists. In this mode the Core delivers, installs, and provides training and maintenance to the front—or any part of this list.
In its full implementation the Core provides a ready-to-mint system, maintains it, and trains its operators. In this mode the Core delivers to the front valueless minted-coins per the front request.
It would be the Core responsibility to insure the integrity of the bits and their identity, and to equip each coin with the headers and trailers as needed. The Core would identify the core mint, the front mint, any other parameters requested by the front, and then add, say, as trailers, any cryptographic parameters as needed. In this mode the Core will deliver live, charged coins to the front mint. The front mint will pay, or promise to pay for these live coins, and then, if necessary, process these coins to serve for the purpose of the front.
The responsibility and involvement of the Core with the business of the front entities is minimal in the royalties mode, a bit greater but still limited in the system mode, also limited in the dead-coins mode, and the highest in the live-coins mode.
In the system mode the Core is responsible for the integrity of the delivered system, but not for its use. In the dead-coins mode, the Core is responsible for the quality of the bit identities of the coins, but not for its money value or use. In the live-coins mode the Core is responsible for the money value of the coins. This responsibility may be of two categories:. In the front-limited mode the Core has a contract with the front whereby the front pays or promises to pay for the delivered coins, and the Core agrees to redeem these coins when submitted by the front for redemption.
The Core will not be involved in any business arrangement between the front mind and its customers, and will not interact with those customers. In the front-extended mode the Core will interact with the customers of the front, even directly redeem its coins to them. Basically, the idea of live coins, is to alley the customers apprehension with regard to the trustworthiness of the front mint.
The live-coins setup will give the front customers the peace of mind that their money is kept the trustworthy Core. For example, customers may be reluctant to trust their money to an unknown Front company that offers them money transfer, micropayment, charity contribution, etc. However, if the terms of the coin are such that if the Front does not pay, or goes out of business, the coin can be redeemed at the Core. It may be advisable to construct a buffer between the entity that mints the coins and the entity that trades them with the public its customers.
A buffer will allow a Core mint to mint coins that may either be traded as is by the front mint in this case this entity is not much of a mint , or it may be first processed by the front mint, with both the header and trailer possibly adjusted, added-to, to serve the purpose of the front.
The value bits will be minted by the Core based on the Core's recognized trustworthiness. For example the front could add cryptographic parameters to the trailer. The trailer add-on may contain a signed hash to identify the coin as re-minted by the Front. This procedure is based on the notion that a BitMint coin is constructed from a large number of ordered bits.
Accordingly Alice could pass a BitMint coin to Bob, and mask the identity of a small number of bits, say, selected randomly. Bob will have knowledge of the identity of sufficient number of bits to claim that he is in possession of the coin, but the identity of the masked bits will connect Bob to Alice, as the payer of the coin.
If Bob had received the coin from Carla, then it is virtually impossible for Carla to randomly select the very same bits as Alice for the purpose of masking their identity as she passes the coin to Bob. Hence the identity of the masked bits points to the source of the coin. Bob, on his part may pass the coin to David—masking some additional bits.
The identity of the bits that Bob masked will point to him as the source of the coin. And so on, when David passes the coin to Eve he masks some more bits. And on it goes. If Alice will examine a coin held by Eve she will be able to determine that it was a coin she held because the bits that she masked giving the coin to Bob are all masked. And since the number of masked bits is so small compared to the number of bits in a coin, the chances that all of Alice masked bits are masked by someone else are very slim.
The selection of bits to mask may be done via a selection algorithm that takes into consideration any information on the coin, its value bits and all the other coin information header and trailer. So for each coin the selected bits are different, but given a coin the selection algorithm may be readily replayed. If an approval hierarchy is used then it is advisable that the number of masked bits is smaller than the number of masked bits between layers on the approval tree.
The key may be hard-wired as matrix of bits where every two bits represents one of the four letters: X, Y, Z, and W. The cipher will operate on basic knowledge where the plaintext comprised of a non-repeat series of X, Y, Z and W letters guides a traveling path on the key, and produces a traveling trace marked as a sequence of Up, Down, Right, and Left. The stream comprised of U, D, R and L letters will constitute the ciphertext. The plaintext may be hard-wired, firmware, or software.
Upon triggering from the outside the plaintext will be fast processed through the key the matrix to yield the ciphertext as output. Conversely, the ciphertext may be resident in the RFID, and upon initialization, the ciphertext will be processed via the key the bit matrix to yield the plaintext as output. In both cases the Samid cipher will be implemented. Hiding content of the RFID: That information may be encrypted and be interpreted through an exhaustive look-up table.
But an easier alternative is to fit the secret RFID information as software, firmware or hardware in the tag, and refer to it as plaintext. The Samid key will such that the size of the output ciphertext will be much larger than the size of the plaintext.
And also there will be a great deal of degree of freedom for the encryption process to yield any of a large variety of ciphertexts, all of them decrypt back to the same plaintext, if the decryptor has possession of the right key. So, in this arrangement only the key will have to be known to the reader of the RFID, and a large number of related or unrelated RFID tags will be sharing the same key. Each tag will contain some specific and unique content.
The reader will have the key in its reading device, and will be able to instantly decrypt the ciphertext, and display and interpret its contents. An unauthorized reader, will activate the RFID, but will be unable to interpret its output because of not having the key.
Also the activation will be able to include random data from a clock or from the environment, and that data will guide the encryption each time to a different ciphertext, a further difficulty for the cryptanalyst. Similar setup could be done with Flash technology. A flash memory may contain a content X may be a digital money string or anything else. The device that holds this memory card, activates the device, so that X is encrypted via a well defined firmware, say key, and produces Y.
A verifier attests to the presence of X in the drive on account of detailed examination of Y. Alice holds string X, and wishes to signal and prove that holding to Bob. If she sends X in the clear, Eve, the eavesdropper will catch it.
If she had a shared key with Bob she could use it to encrypt X and send it to Bob. Otherwise she could use diffie Hellman or any other cryptography between strangers—with all the weaknesses thereto. So instead she could use an Auto-Key, based on the crypto-cipher and crypto addition presented by this inventor before.
Accordingly Alice will separate from the string t bits as described in the crypto cipher, use these bits to find where to dissect the rest of the string, and then use one part so dissected as plaintext and the other as a Samid cipher key. Then Alice will encrypt the plaintext using her derived key applying the Samid cipher.
She will communicate the result to Bob the verifier. Bob who knows X will repeat Alice process to check if Alice ciphertext agrees with his calculations, and if so, he is rest assured that Alice has X. This verification happened without any exchange of any key. Eve, the hacker will not be able to reverse Alice ciphertext, Y to the original string because as it has been shown there, there are infinite number of strings that process to the same Y.
Digital money is native to online applications, and inherently problematic in off-line circumstances where one suspects that the same digital string was used earlier, elsewhere, or even later, putting the payment in doubt. We propose effective means to manage such risks and operate a viable off-line digital payment solution. The device, the coin, will be tamper-resistant to a degree commensurate with its capacity.
Security will be safeguarded by insuring that the cost to counterfeit exceeds the maximum money content of the coin. Different coin denominations will have different tamper-resistant measures, and these measures will be dynamically adjusted to protect against increasingly more sophisticated counterfeit measures.
We distinguish between the following coins: The coins are optionally battery operated, marked by a unique serial number, and they may be shaped like regular coins. The digital money in the coins can be defined in terms of dollars, Euros, Yuan, or any other currency, as well as defined against gold, or any other commodity valuable.