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issuing bank, the government, or a third party. This system of Blind
Signatures through DigiCash software improved security for its users through the issuance of secured keys, which prevented third parties from accessing personal information through online transactions. The Mark Twain Bank, later acquired by Mercantile bank, located in
100:, Chaum wrote a paper describing the technological advancements to public and private key technology, in order to create this Blind Signature Technology. Chaum's Blind Signature Technology was designed to ensure the complete privacy of users who conduct online transactions. Chaum was concerned with the public nature and open access to
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DigiCash was a form of early electronic payment, which required user software to withdraw notes from a bank and designate specific encrypted keys before it can be sent to a recipient. This advancement of public and private key cryptography allows electronic payments to become untraceable by the
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DigiCash was unable to grow the company successfully through the expansion of its user base. Chaum stated in an interview in 1999 that the DigiCash project, and its technology system, entered the market before e-commerce was fully integrated within the
Internet. In 1998, DigiCash filed a
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and personal information. He then proposed to construct a system of cryptographic protocols, in which a bank or the government would be unable to trace personal payments conducted online. This technology became fully implemented in 1990, through Chaum's company, DigiCash.
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protocols developed by its founder. DigiCash declared bankruptcy in 1998 and subsequently sold its assets to eCash
Technologies, another digital currency company, which was acquired by
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Blind
Signatures for Untraceable Payments," D. Chaum, Advances in Cryptology Proceedings of Crypto 82, D. Chaum, R.L. Rivest, & A.T. Sherman (Eds.), Plenum, pp. 199-203.
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bankruptcy and in 2002 the company was sold for assets. A more modern implementation of the DigiCash approach is provided by Taler
Systems SA as Free Software with the "
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https://web.archive.org/web/20220817175828/https://chaum.com/wp-content/uploads/2022/01/05-07-96-DigiCash_s-Ecash%E2%84%A2-to-be-Issued-by-Deutsche-Bank.pdf
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Chaum, David. "Security
Without Identification: Transaction Systems To Make Big Brother Obsolete". Communications of the ACM 28.10 (1985): 1030-1044. Web.
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Brodesser, Jens-Ingo. "First Monday
Interviews: David Chaum." First Monday , 4.7 (1999): n. pag. Web. 8 Jun. 2016
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David Chaum is associated with the invention of Blind
Signature Technology. In 1982, while studying at the
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in 1989. DigiCash transactions were unique in that they were anonymous due to a number of
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Pitta, Julie. "Requiem for a Bright Idea." Forbes. N.p., 1 Nov. 1999. Web. 5 May 2016.
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Pitta, Julie (1999/11/01). Requiem for a Bright Idea - Forbes
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Electronic money corporation founded by David Chaum in 1990
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was the only U.S. bank that supported DigiCash systems.
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