Franchised Quantum Money
Bhaskar Roberts, Mark Zhandry

TL;DR
This paper introduces franchised quantum money, a new type of quantum currency that is easier to construct, secure against counterfeiting, and allows local verification without bank communication, based on standard cryptographic assumptions.
Contribution
It proposes franchised quantum money, providing a practical construction with security based on one-way functions, and introduces the concept of sabotage security.
Findings
Constructed franchised quantum money scheme
Proved security assuming one-way functions
Scheme allows local verification without bank communication
Abstract
The construction of public key quantum money based on standard cryptographic assumptions is a longstanding open question. Here we introduce franchised quantum money, an alternative form of quantum money that is easier to construct. Franchised quantum money retains the features of a useful quantum money scheme, namely unforgeability and local verification: anyone can verify banknotes without communicating with the bank. In franchised quantum money, every user gets a unique secret verification key, and the scheme is secure against counterfeiting and sabotage, a new security notion that appears in the franchised model. Finally, we construct franchised quantum money and prove security assuming one-way functions.
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Taxonomy
TopicsCryptography and Data Security · Blockchain Technology Applications and Security · Computability, Logic, AI Algorithms
