Financial Cryptography

A hash-chain based micropayment scheme is cast within a trust management framework. Cryptographic delegation credentials are used to manage the transfer of micropayment contracts between public keys. Micropayments can be efficiently generated and determining whether a contract and/or micropayment should be trusted (accepted) can be described in terms of a trust management compliance check. A consequence is that it becomes possible to consider authorisation based, in part, on monetary concerns. The KeyNote trust management system is used to illustrate the approach.

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