6 Criteria of ideal Electronic Cash

by T. Okamoto and K. Ohta

🌍 1. Independence

Electronic cash should be usable without relying on any physical location or time constraint, much like physical cash.

🔐 2. Security

The system should be secure against attempts to counterfeit or double-spend the digital cash.

🕵️ 3. Privacy (Anonymity)

Transactions should protect user identity to ensure privacy, similar to transactions with physical cash.

🔄 4. Transferability

Electronic cash should be easily transferable between individuals without needing a third party.

➗ 5. Divisibility

The system should support division into smaller units, facilitating transactions of various sizes.

📴 6. Off-line Payment

It should be possible to conduct transactions in off-line modes, without needing real-time connectivity to a bank or a network.

These criteria are aimed at creating a digital currency system that mimics the characteristics of physical cash. They addressing the needs for privacy, ease of use, and security.

Referenced by Nicolas van Saberhagen,

CryptoNote Whitepaper

https://web.archive.org/web/20140626042305/https://cryptonote.org/whitepaper.pdf