Executable digital cash for electronic commerce

摘要: The invention provides techniques for implementing secure transactions using an instrument referred to as "executable digital cash." In illustrative embodiment, a first user generates piece of cash representing offer made by that user. includes certificate authorizing the make specified transfers, and program characterizing offer. is broadcast or otherwise transmitted one more additional users, utilizing mobile agent other suitable mechanism, such given these users can evaluate program. For example, second could execute with specific bid input determine what would receive upon acceptance his bid. If result acceptable user, capsule including bid, corresponding output program, another transfer in submitted institution processing accordance policy which may be cash. selects winning bids implements transactions. Digital signatures generated secret keys associated certificates are utilized ensure adequate security information.