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web page shopping cart, and best shopping cart information: Trust and confidence in secret signature keyswith all the interest in certificate authorities (cas) and trusted third parties (ttps) it iseasy to forget that digital signatures involve much more than certificates alone. For example, if i trust the british medical association (bma) and the bmatrusts that ‘x’ is a doctor, then i can infer that i too should trust that ‘x’ is a doctor. Vendors must somehow verify each customer's age without gathering enough information to reveal that customer's identity. Transaction costs are also an issue.

The problem is that rules developed for traditional commerce may not be applicable orenforceable with e-commerce. 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. The notary also creates areceipt. For example, doesthat online pharmacy really have licensed pharmacists on staff?Fraud would be more difficult if a unique identifier were embedded in each computer.

Here the certificate states in effect that the keyholder, whoever they are, has ‘permissionto write medical prescriptions’. Pay cash also supports transfers that are equivalent to many electronic “coins” through use of paybooks. The customer has the option of providing additional information, which it may designate as either public or private. Thus, in an auditable system, every other case should be detected, and it should be possible to identify the guilty parties.



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Of course, customers and merchants must surrender their privacy to the credit card company, and often to each other. Restrictions may achieve little or nothing. States have incentive to cooperate in promoting uniformity to insure that statestax laws can be enforced, and to prevent the expense of duplicating oversight responsibilitiesunnecessarily. If there is a dispute, the sender cannot prove that he transferred funds to the recipient, and he certainly cannot prove that it was part of another transaction, such as an e-commerce purchase.

Moreover, this reducesthe privacy of buyers and sellers. 3: Submitting transaction records to a notarynotarizing transaction t makes it difficult to alter the records retroactively. If no paybook has been seen before with serial number p, then a new one is created with m(p)=0.



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