Abstract
Financial Cryptography is substantially complex, requiring skills drawn from diverse and incompatible, or at least, unfriendly, disciplines. Caught between Central Banking and Cryptography, or between accountants and programmers, there is a grave danger that efforts to construct Financial Cryptography systems will simplify or omit critical disciplines.
This paper presents a model that seeks to encompass the breadth of Financial Cryptography (at the clear expense of the depth of each area). By placing each discipline into a seven layer model of introductory nature, where the relationship between each adjacent layer is clear, this model should assist project, managerial and requirements people.
Whilst this model is presented as efficacious, there are limits to any model. This one does not propose a methodology for design, nor a check- list for protocols. Further, given the young heritage of the model, and of the field itself, it should be taken as a hint of complexity rather than a defining guide.
Ian Grigg can be reached at iang@systemics.com. He is a founder of Systemics, Inc, a developer of Internet Financial Systems software.
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References
Ian Grigg, Virtual Finance Report, Digital Trading, November 1997.
Mark S. Miller, Chip Morningstar, Bill Frantz, Capability-based Financial Instruments, accepted by Financial Cryptography 2000, Anguilla, February 2000.
Ian Grigg, Universal Value, work in progress. This is introduced later in the example.
Ian Grigg and C. Petros, Proceedings of Financial Cryptography, Using Electronic Markets to Achieve Efficient Task Distribution, February 1996.
Ian Grigg, work in progress, Universal Value
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© 2001 Springer-Verlag Berlin Heidelberg
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Grigg, I. (2001). Financial Cryptography in 7 Layers. In: Frankel, Y. (eds) Financial Cryptography. FC 2000. Lecture Notes in Computer Science, vol 1962. Springer, Berlin, Heidelberg. https://doi.org/10.1007/3-540-45472-1_23
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DOI: https://doi.org/10.1007/3-540-45472-1_23
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