Mercantile Process Using Digital Cash Or E-Cash:-

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E-Cash in similar to paper currency and has more benefits and easily transmitted electronically. The following are the mercantile protocol based on the use of e-cash.

1. Buyer obtains anonymous (secret) e-cash from issuing bank.

 

2. Buyer contacts seller to purchase product.

 

3. Seller states the price.

 

4. Buyer sends e-cash to seller.

 

5. Seller contacts his bank or billing Service to verify the validity of the e-cash.

 

6. Bank gives o.k. signal to seller.

 

7. Seller delivers the product to buyer.

 

8. Seller then tell bank to mark the e-cash

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