I will provide a detailed answer a bit later, but the short answer is that
anonymity and untraceability are not major selling points, as experience
shows. After all, ATMs could easily record and match to the user the serial
numbers of each banknote they hand out, yet, there seems to be no preference
to coins vs. banknotes.

The major selling point, as noted in the paper and in the presentation is
that the security (and hence the transaction cost manifesting itself in the
effort required for each transaction) scales with transaction value. For
paying pennies, you just type, say, 12-character codes. Yet, if the
transaction value warrants it, you can have a full-fledged, digitally signed
audit trail within the same system. And it's completely up to the users to
decide what security measures to take.

Another important issue is that you never risk more than the transaction
value. There is no identity to be stolen.

So, in short, the selling point is flexible and potentially very high
security against all sorts of threats. Someone finding out who you might be
is not, by far, the most serious threat in a payment system.


Reply via email to