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Recently a publication – the global trust register [2] –has been established for this purpose. The payment system facilitates the transfers, and makes it impossible for users to counterfeit coins, but the payment system never knows who owns a digital coin until an owner wants to redeem that electronic coin for real cash. Figures 4 through 7 illustrate various hosting models. Of the twelve approaches described above, three require all parties involved in a transaction (or alleged transaction) to conspire to falsify records at the time of the transaction (1, 4, and 6). ‘Trusted third parties (ttp)’ as certificate authorities for digital signatures are oftenjustified using an analogy with the role of the financial institutions in conventionalcommerce.
| e-commerce builder info: A digital identity certificate might be based on a passport but thelatter might be forged and there might be large variations in the care with which this ischecked. Another common payment paradigm is that of traditional checking, such as the system currently being devised by the financial services technology consortium [13,19]. Step threedevelop an on-line catalog and handle transactions on-line. See also Store Builder, and e-commerce builder related pages. |
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