Conference Paper

An Anonymous Credit Card System.

DOI: 10.1007/978-3-642-03748-1_5 Conference: Trust, Privacy and Security in Digital Business, 6th International Conference, TrustBus 2009, Linz, Austria, September 3-4, 2009. Proceedings
Source: DBLP

ABSTRACT Credit cards have many important benefits; however, these same bene- fits often carry with them many privacy concerns. In particular, the need for users to be able to monitor their own transactions, as well as bank's need to justify its payment requests from cardholders, entitle the latter to maintain a detailed log of all transactions its credit card customers were involved in. A bank can thus build a profile of each cardholder even without the latter's consent. In this paper, we present a practical and accountable anonymous credit system based on ecash , with a privacy preserving mechanism for error correction and expense-reporting.

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    ABSTRACT: Current banking systems do not aim to protect user privacy. Purchases made from a single bank account can be linked to each other by many parties. This could be addressed in a straight-forward way by generating unlinkable credentials from a single master credential using Camenisch and Lysyanskaya’s algorithm; however, if bank accounts are taxable, some report must be made to the tax authority about each account. Assuming a flat-rate taxation mechanism (which can be extended to a progressive one) and using unlinkable credentials, digital cash, and zero knowledge proofs of knowledge, we present a solution that prevents anyone, even the tax authority, from knowing which accounts belong to which users, or from being able to link any account to another or to purchases or deposits.
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