Self-updating: Strong Privacy Protection Protocol for RFID-Tagged Banknotes.
ABSTRACT RFID systems have already used in less sensitive application such as manufacturing since the use of RFID technology increases
the efficiency of a work. According as researchers are interested in RFID systems gradually, RFID systems will be applied
to various fields than before. One of RFID application fields, a bank system uses RFID tagged banknotes(tagged banknotes)
in order to prevent illegal transactions such as counterfeiting banknotes and money laundering. Several researchers have proposed
RFID schemes which are able to apply in RFID-based bank systems [2,5,10]. Unfortunately, the proposed schemes did not provide
privacy protection of individuals since sensitive information about individuals’ location is revealed by an adversary despite
one of basic requirements in RFID systems. We propose a RFID scheme for protecting location privacy of a banknote holder in
RFID-based bank systems.