Financial Cryptography 5th International Conference, FC 2001, Grand Cayman, British West Indies, February 19-22, 2001. Proceedings

The?fthFinancialCryptographyconferencewasheldFebruary19-22,2001. Afterhalfadecade,wemovedbeyondourAnguillanoriginstoGrandCayman, BWI. Thevenuechangedbutthefocusoftheprogramremainedtopresentthe bestresearchinsecuringelectronic?nancialtransactionsandelectronicc- merce. Asinthepastfewyears,mostofthecontributedpapersfocusedonthe technicalcryptographicandsecurityaspectsof?nancialcryptography,whilethe ?nancialaspectsarere?ectedprimarilyininvitedtalksandpanels. (Andinthe informaldiscussion. )Thisyear,inadditiontothesubmittedpapers,wehada provocativeinvitedtalkbyRichardRahnonmoneylaunderingaswellaspanels ondigitalrightsmanagementandthebusinessofelectronicvoting. Therewas alsoarumpsession,chairedbyRebeccaWright. Thereweremanyinterestingandmanytechnicallystrongsubmissions. I thanktheprogramcommittee(listedonthenextpage)fortheirhelpinthe di?culttaskofchoosingthosepapersthatmadethestrongestcontributionto theconference. WehadadditionalreviewinghelpfromOlivierBaudron,Paul Fahn,JuanGaray,MarkusJakobsson,GuenterKarjoth,PhongNguyen,David Pointcheval,ThomasPornin,SholomRosen,DawnSong,SusanneWetzel,and RebeccaWright. (MyapologiesifIhaveoverlookedanyone. )Iwouldalsoliketo thankGeorgeDavida,theelectronicsubmissionschair,andhisstudent,Dawn MarieGibson,forsettingupandrunningthesubmissionsprocessattheUniv- sityofWisconsin. AnextrabigthankyoutoYairFrankel,whowasalwaysthere withhisexperienceandadvicethatgreatlyimprovedthejobIdidasprogram chair,aswellasmakingitmoreenjoyable. MattFranklinalsoprovidedvaluable advice. Thankstoallthepeoplewhosubmittedpapers,withoutwhichthere wouldbenoprogram. Authorsweregiventheopportunitytorevisetheirpapers followingtheconference. Thesewerecollectedwithoutfurtherreviewandare includedinthisvolume. ThankstogeneralchairStuartHaberfordoingmanythingsthatnoneofthe attendeesnoticedbecausehedidthemsonicely. HewasablyassistedbyHinde tenBerge. ThankstoHarrisMcCoyforhandlinglocalarrangementsandJason CronkformaintainingtheWebsite. ThankstotheIFCAdirectorsforkeeping FC

Managing Payment Transaction Costs.- Amortized E-Cash.- Offline Micropayments without Trusted Hardware.- Panel (I).- The Practical Problems of Implementing MicroMint.- Protecting Digital Rights.- Aspects of Digital Rights Management and the Use of Hardware Security Devices.- A Solution to the Napster Phenomenon: Why Value Cannot Be Created Absent the Transfer of Subjective Data.- Golden Times for Digital Rights Management?.- Applicability of Public Key Cryptosystems to Digital Rights Management Applications.- Trust and Risk Management.- On the Global Content PMI: Improved Copy-Protected Internet Content Distribution.- Trust: A Collision of Paradigms.- Groups and Anonymity.- On the Security of Homage Group Authentication Protocol.- Anonymity without ‘Cryptography’.- Fair Tracing without Trustees.- Invited Talk.- Why the War on Money Laundering Should Be Aborted.- Certificates and Authentication.- Provably Secure Implicit Certificate Schemes.- Nonmonotonicity, User Interfaces, and Risk Assessment in Certificate Revocation.- Mutual Authentication for Low-Power Mobile Devices.- Credit Card Security.- Off-Line Generation of Limited-Use Credit Card Numbers.- A Security Framework for Card-Based Systems.- SecureClick: A Web Payment System with Disposable Credit Card Numbers.- Panel (II).- The Business of Electronic Voting.- Markets and Multiparty Computation.- Privacy for the Stock Market.- Secure Distributed Computing in a Commercial Environment.- Signatures in Financial Cryptography.- Monotone Signatures.- The Power of RSA Inversion Oracles and the Security of Chaum’s RSA-Based Blind Signature Scheme.- Optimistic Fair Exchange with Transparent Signature Recovery.- Auctions.- (M + 1)st-Price Auction Protocol.- Non-interactive Private Auctions.