A Quantum Vault Scheme for Digital Currency

TL;DR

This paper proposes a quantum currency model that uses a quantum vault to delegate quantum storage, aiming to prevent double-spending and enhance digital currency security despite current technological limitations.

Contribution

It introduces a quantum vault scheme that delegates quantum storage to an intermediary, reducing the need for advanced quantum wallets in digital currency systems.

Findings

Quantum vault enables secure delegation of quantum storage.

The scheme prevents double-spending using quantum principles.

Discussion of benefits and challenges of quantum currency.

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.