OPERA: A Complete Offline and Anonymous Digital Cash Transaction System with a One-Time Readable Memory

Ki-Woong PARK; Sung Hoon BAEK

doi:10.1587/transinf.2016INP0008

OPERA: A Complete Offline and Anonymous Digital Cash Transaction System with a One-Time Readable Memory

Ki-Woong PARK, Sung Hoon BAEK

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Emerging digital payment services, also known as FinTech, have enabled various types of advanced payment transactions (such as Google Wallet, Apple Pay, Samsung Pay, etc.). However, offline peer-to-peer cash transactions still make up about 25.6% of the overall financial transactions in everyday life. By investigating existing online and offline payment systems, we identify three key challenges for building a digital cash transaction system with core features of the offline cash transactions: self-verifiability of digital cash; user anonymity; atomic cash transfer for double spending/depositing protection. In this paper, we propose OPERA, an offline peer-to-peer digital cash transaction system that addresses the three challenges. It newly introduces a concept of ‘one-time-readable memory(ORM)’ and ‘digital token’ which is a unit of self-verifiable digital cash. The one-time readability from ORM and three-stage token exchange protocol enable OPERA to provide uniqueness to digital cash and to allow a complete offline digital payment. OPERA devices are enhanced with TCPA technology to ensure the integrity of the physical device package. To evaluate the feasibility and resilience of the OPERA design, we built a prototype on a customized embedded board.

Publication: IEICE TRANSACTIONS on Information Vol.E100-D No.10 pp.2348-2356

Publication Date: 2017/10/01

Publicized: 2017/07/21

Online ISSN: 1745-1361

DOI: 10.1587/transinf.2016INP0008

Type of Manuscript: Special Section PAPER (Special Section on Security, Privacy and Anonymity in Computation, Communication and Storage Systems)

Category: Privacy, anonymity, and fundamental theory

Authors

Ki-Woong PARK
Sejong University
Sung Hoon BAEK
Jungwon University

Keyword

offline digital payment, digital cash

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Ki-Woong PARK, Sung Hoon BAEK, "OPERA: A Complete Offline and Anonymous Digital Cash Transaction System with a One-Time Readable Memory" in IEICE TRANSACTIONS on Information, vol. E100-D, no. 10, pp. 2348-2356, October 2017, doi: 10.1587/transinf.2016INP0008.
Abstract: Emerging digital payment services, also known as FinTech, have enabled various types of advanced payment transactions (such as Google Wallet, Apple Pay, Samsung Pay, etc.). However, offline peer-to-peer cash transactions still make up about 25.6% of the overall financial transactions in everyday life. By investigating existing online and offline payment systems, we identify three key challenges for building a digital cash transaction system with core features of the offline cash transactions: self-verifiability of digital cash; user anonymity; atomic cash transfer for double spending/depositing protection. In this paper, we propose OPERA, an offline peer-to-peer digital cash transaction system that addresses the three challenges. It newly introduces a concept of ‘one-time-readable memory(ORM)’ and ‘digital token’ which is a unit of self-verifiable digital cash. The one-time readability from ORM and three-stage token exchange protocol enable OPERA to provide uniqueness to digital cash and to allow a complete offline digital payment. OPERA devices are enhanced with TCPA technology to ensure the integrity of the physical device package. To evaluate the feasibility and resilience of the OPERA design, we built a prototype on a customized embedded board.
URL: https://global.ieice.org/en_transactions/information/10.1587/transinf.2016INP0008/_p

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@ARTICLE{e100-d_10_2348,
author={Ki-Woong PARK, Sung Hoon BAEK, },
journal={IEICE TRANSACTIONS on Information},
title={OPERA: A Complete Offline and Anonymous Digital Cash Transaction System with a One-Time Readable Memory},
year={2017},
volume={E100-D},
number={10},
pages={2348-2356},
abstract={Emerging digital payment services, also known as FinTech, have enabled various types of advanced payment transactions (such as Google Wallet, Apple Pay, Samsung Pay, etc.). However, offline peer-to-peer cash transactions still make up about 25.6% of the overall financial transactions in everyday life. By investigating existing online and offline payment systems, we identify three key challenges for building a digital cash transaction system with core features of the offline cash transactions: self-verifiability of digital cash; user anonymity; atomic cash transfer for double spending/depositing protection. In this paper, we propose OPERA, an offline peer-to-peer digital cash transaction system that addresses the three challenges. It newly introduces a concept of ‘one-time-readable memory(ORM)’ and ‘digital token’ which is a unit of self-verifiable digital cash. The one-time readability from ORM and three-stage token exchange protocol enable OPERA to provide uniqueness to digital cash and to allow a complete offline digital payment. OPERA devices are enhanced with TCPA technology to ensure the integrity of the physical device package. To evaluate the feasibility and resilience of the OPERA design, we built a prototype on a customized embedded board.},
keywords={},
doi={10.1587/transinf.2016INP0008},
ISSN={1745-1361},
month={October},}

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TY - JOUR
TI - OPERA: A Complete Offline and Anonymous Digital Cash Transaction System with a One-Time Readable Memory
T2 - IEICE TRANSACTIONS on Information
SP - 2348
EP - 2356
AU - Ki-Woong PARK
AU - Sung Hoon BAEK
PY - 2017
DO - 10.1587/transinf.2016INP0008
JO - IEICE TRANSACTIONS on Information
SN - 1745-1361
VL - E100-D
IS - 10
JA - IEICE TRANSACTIONS on Information
Y1 - October 2017
AB - Emerging digital payment services, also known as FinTech, have enabled various types of advanced payment transactions (such as Google Wallet, Apple Pay, Samsung Pay, etc.). However, offline peer-to-peer cash transactions still make up about 25.6% of the overall financial transactions in everyday life. By investigating existing online and offline payment systems, we identify three key challenges for building a digital cash transaction system with core features of the offline cash transactions: self-verifiability of digital cash; user anonymity; atomic cash transfer for double spending/depositing protection. In this paper, we propose OPERA, an offline peer-to-peer digital cash transaction system that addresses the three challenges. It newly introduces a concept of ‘one-time-readable memory(ORM)’ and ‘digital token’ which is a unit of self-verifiable digital cash. The one-time readability from ORM and three-stage token exchange protocol enable OPERA to provide uniqueness to digital cash and to allow a complete offline digital payment. OPERA devices are enhanced with TCPA technology to ensure the integrity of the physical device package. To evaluate the feasibility and resilience of the OPERA design, we built a prototype on a customized embedded board.
ER -