How ecash works
Customer generates an electronic banknote with a random serial number
A Ågblinding factorÅh is applied to the serial number so the bank cannot trace the banknote in the future
A third party to handle and sign the message without being able to see the actual message.
The blinded message is untraceable
Customer sends the blinded e-banknote to the bank
The bank deducts the amount from the customer's account, signs the banknote (encrypts it) and sends it back to the customer
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