Device for directly transmitting electronic coin data records to another device, and payment system

This invention describes a device that can send digital money, called 'electronic coin data records,' directly to another device. It uses a special encryption method to mask the digital money, allowing a central authority to track transactions without seeing the actual details, while also securely storing and potentially receiving digital money by scanning visual codes or wirelessly.

Why it matters: Filed before homomorphic encryption was widely optimized, the technology for privacy-preserving audits of peer-to-peer digital currency transactions has advanced significantly. This makes the system's core mechanism for auditable yet private digital cash transfers more feasible today.

Status: Not in forceListed as no longer active. The specific reason is not in the record we hold.
How hard to build: SpecializedHomomorphic encryption, secure hardware, software logic, optoelectronics.

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