EfTrEC – Efficient Transferable E-cash

Project funded by the French research funding agency ANR
Duration: 08/11/2016 – 07/11/2020



Physical cash is slowly disappearing and with it the possibility to make anonymous payments. Electronic payments offered by traditional providers are all traceable and violate the citizens' right to privacy. The rise of cryptocurrencies, in particular of more advanced ones like Monero or Zcash, show a demand for privacy-respecting electronic payments; however, these decentralized currencies operate outside the public monetary system. Moreover, the energy consumption caused by cryptocurrencies is ecologically alarming.

Ef TrEC reinvestigates cryptographic e-cash, which entrusts banks with the issuing of electronic coins and whose primary concern is the protection of user privacy. The major drawback of all schemes proposed up to now is that an e-coin received as payment must be deposited at the bank and cannot be reused like physical cash. The main goal of Ef TrEC are practical schemes that allow transfer of coins: efficient transferable e-cash. Our research program is structured as follows: