A new electronic cash model

Credit card is currently the most popular electronic payment method on the Internet, but it is not an ideal method from the security and privacy point of view. Electronic cash solves many inherent problems of credit card, such as anonymity and off-line payment, and is widely accepted as an ideal electronic payment method. However, there are issues that are yet to be satisfactorily solved, such as fair traceability and double-spending prevention of off-line schemes. In this paper, we present a customer generated electronic cash model that offers unique trade-off between credit card and traditional off-line electronic cash systems. This model provides anonymity for customers and is technically more secure than credit card systems. It eliminates the withdrawal phase of electronic cash systems, thus it is more convenient for customers to use. In addition, fair traceability is provided in case crimes take place.