Eagle Cash
en.wikipedia.org
Eagle Cash
1–10 of 109 posts
Re: Eagle Cash
#2Interesting.
How does this thing solve the "double spend problem" [0].
Without needing network access?
You usually need server communication in electronics payment systems to confirm payment & update account balances. How does Eagle Cash solve this problem?
[0]: https://www.investopedia.com/terms/d/doublespending.asp
Re: Eagle Cash
#3> This method allows soldiers to purchase goods and services at U.S. military posts and canteens, without carrying cash, or manage their personal bank accounts while on deployment or in training. The program reduces the amount of American currency required overseas, reduces theft, saves thousands of man-hours in labor, helps reduce the risk of transporting cash in combat environments, and increases security and convenience for service members.
It also prevents soldiers from being able to trade easily with anyone who isn't an authorized card terminal user.
Re: Eagle Cash
#4Interesting. How does this thing solve the "double spend problem" [0]. Without needing network access? You usually need server communication in electronics payment systems to confirm payment & update account balances. How does Eagle Cash solve this problem? [0]: https://www.investopedia.com/terms/d/doublespending.asp
You trust the secure element, and if you think that's not enough, you reconcile spending logs and bring the wrath of the federal government on whoever was dumb enough to try.
Re: Eagle Cash
#5Interesting. How does this thing solve the "double spend problem" [0]. Without needing network access? You usually need server communication in electronics payment systems to confirm payment & update account balances. How does Eagle Cash solve this problem? [0]: https://www.investopedia.com/terms/d/doublespending.asp
Funds are stored on the card and loaded from a kiosk.
Re: Eagle Cash
#6Interesting. How does this thing solve the "double spend problem" [0]. Without needing network access? You usually need server communication in electronics payment systems to confirm payment & update account balances. How does Eagle Cash solve this problem? [0]: https://www.investopedia.com/terms/d/doublespending.asp
They rely on the fact that the double spenders are easy to find and punish.
Re: Eagle Cash
#7Interesting. How does this thing solve the "double spend problem" [0]. Without needing network access? You usually need server communication in electronics payment systems to confirm payment & update account balances. How does Eagle Cash solve this problem? [0]: https://www.investopedia.com/terms/d/doublespending.asp
Similar to many Mastercard/Visa cards. The electronic chip on the card is capable of actually storing the balance and then syncing it back when it reaches a terminal machine that’s connected to the internet.
In my experience, many (most) chip-card based transport systems for busses or trains (eg tap n go) operates in this offline mode where it only syncs when you go to the kiosk to top it up.
It uses cryptographic methods to securely store and update the balance. The chip itself is an embedded processor.
Re: Eagle Cash
#8Interesting. How does this thing solve the "double spend problem" [0]. Without needing network access? You usually need server communication in electronics payment systems to confirm payment & update account balances. How does Eagle Cash solve this problem? [0]: https://www.investopedia.com/terms/d/doublespending.asp
Funds are stored on the card and loaded from a kiosk.
Something similar existed in Belgium from 1995 to 2014 for small payments, called Proton [0].
Re: Eagle Cash
#9Interesting. How does this thing solve the "double spend problem" [0]. Without needing network access? You usually need server communication in electronics payment systems to confirm payment & update account balances. How does Eagle Cash solve this problem? [0]: https://www.investopedia.com/terms/d/doublespending.asp
They rely on the fact that the double spenders are easy to find and punish.
So security is maintained using violence? Not technology?