A digital currency can use 1980s math to allow untraceable payments without an internet connection
Modern digital currencies are reviving 1980s cryptography to enable private, offline payments that function like physical cash, allowing users to make secure transactions without an internet connection or a central ledger.
The technology behind the digital euro relies on blind signature cryptography, a mathematical concept pioneered by David Chaum in 1982. This system allows a bank to verify a digital coin's validity without knowing which specific user is spending it. By using RSA moduli of 2048 bits, users can 'blind' their payment requests with random factors, ensuring their privacy remains intact even from the issuing authority.
There's more to this story — open the app to keep reading.
Continue Reading in App
1 more paragraphs · plus a 3-question quiz