a) In minting stage of E-cash payment system, what mechanism is used to make the serial number (generated by client’s cyber wallet) blind? (2)
b) Assume that you want to buy a low cost item like shoes, wallet etc, what payment system do you suggest for this transaction and why? (3)
Question# 2 (5)
Suppose you want to buy an apple iphone from an online shopping site through E-cash payment system. What steps would be followed to make this transaction?
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solution Question 1
a) At this stage the bank knows as to who amongst its different account holders or clients is requesting for the bank’s signatures on the serial no., but it does not know the serial no. it is signing due to the blinding factor “r”.
b) here in Pakistan, people are not use to of plastic money, specially the small vendors. if i am buying a low cost product than i will pay through cash to avoid long procedure of bank.
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This purchase will take the following steps.........
E-Cash & the Web
Merchant Software
Merchant Client Software
Wallet Client
Wallet Web
Browser
Web Server
wallet Starts
1.Select Order
2. Merchant
3. Payment Request (Order)
4. Payment (coins,order)
5. Deposit coins
6. Accepted
7. Receipt
8.Send goods
9.Goods/Acknowledgement
Question no.1:
In minting stage of E-cash payment system, what mechanism is used to make the serial number (generated by client’s cyber wallet) blind?
Answer:
Coin is issued by band to its customer and bank know that which account holder is requesting for signature but bank does not know about serial number because serial number is serial number is multiplied by blinding factor “r” which make serial number blind for bank.
b) Assume that you want to buy a low cost item like shoes, wallet etc, what payment system do you suggest for this transaction and why?
Answer:
For purchasing low cost item cash payment system is best for the payment of low cost item. Because
Small shop keeper only accept cash payment.
Small shop keeper don’t have machine which accept debit, credit card.
Electronic payment also is long process which makes transaction complicated.
Question no. 2
Suppose you want to buy an apple iphone from an online shopping site through E-cash payment system. What steps would be followed to make this transaction?
Answer:
If someone wants to purchase iphone from online shopping through e-cash payment than different steps is taken to complete the transaction.
These are following steps which must take.
1. Select Order
2. Merchant
3. Payment Request (Order)
4. Payment (coins, order)
5. Deposit coins
6. Accepted
7. Receipt
8. Send goods
9. Goods/Acknowledgement
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