A Quantum Vault Scheme for Digital Currency

• URL: http://arxiv.org/abs/2408.04563v1
• Date: Thu, 8 Aug 2024 16:22:45 GMT
• Title: A Quantum Vault Scheme for Digital Currency
• Authors: Anne Broadbent, Raza Ali Kazmi, Cyrus Minwalla,
• Abstract summary: Quantum money exploits the quantum mechanical principle of no-cloning to enable a currency that is immune to double spending. Here, we propose a model for quantum currency, which alleviates the need for quantum wallets by delegating quantum storage and processing to an intermediary that we call a "quantum vault"
• Score: 1.0650780147044159
• License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
• Abstract: A digital currency is money in a digital form. In this model, maintaining integrity of the supply is a core concern, therefore protections against double-spending are often at the heart of a secure digital money scheme. Quantum money exploits the quantum mechanical principle of no-cloning to enable a currency that is immune to double spending. One of the challenges of the scheme is that users require technology that is currently out of reach. Here, we propose a model for quantum currency, which alleviates the need for quantum wallets by delegating quantum storage and processing to an intermediary that we call a "quantum vault". We develop the basic building blocks of this quantum-enabled digital currency and discuss its benefits and challenges.

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