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HomeCrypto EducationCan Fedimints Assist Bitcoin Scale To The World?

Can Fedimints Assist Bitcoin Scale To The World?

I. E-Money Strikes Again

Thirty three years in the past, the pc scientist David Chaum launched e-cash, a brand new manner for folks to spend digital {dollars} with out revealing their private data.

Customers plugged their financial institution card right into a terminal to deposit conventional digital {dollars} into Chaum’s financial institution — known as DigiCash — which issued in return e-cash IOU tokens known as “cyberbucks.” These tokens have been bearer devices, and could possibly be traded privately throughout the web between completely different e-cash customers or spent on, for instance, articles from “Encyclopedia Britannica.” When retailers redeemed the tokens in alternate for greenback deposits of their financial institution accounts, DigiCash was not in a position to hyperlink the redemption to the unique deposit, due to a intelligent cryptographic idea Chaum invented known as blind signatures.

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