IT430 Assignment No. 3 solution

Please note that Assignment No. 3 of IT430 has been uploaded. The due date to submit solutions is 06-06-2011 (06-June-2011). All the instructions for solving assignment are there in assignment file. Please make sure, you read the instructions before attempting assignment and upload solutions before due date. 

Assignment Question: 

Question# 1 (5)

a) In minting stage of E-cash payment system, what mechanism is used to make the serial number (generated by client’s cyber wallet) blind? (2)

b) Assume that you want to buy a low cost item like shoes, wallet etc, what payment system do you suggest for this transaction and why? (3)

Question# 2 (5)

Suppose you want to buy an apple iphone from an online shopping site through E-cash payment system. What steps would be followed to make this transaction? 


Solution:


solution Question 1
a) At this stage the bank knows as to who amongst its different account holders or clients is requesting for the bank’s signatures on the serial no., but it does not know the serial no. it is signing due to the blinding factor “r”.

b) here in Pakistan, people are not use to of plastic money, specially the small vendors. if i am buying a low cost product than i will pay through cash to avoid long procedure of bank.


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This purchase will take the following steps.........

E-Cash & the Web

Merchant Software
Merchant Client Software
Wallet Client
Wallet Web
Browser
Web Server
wallet Starts
1.Select Order
2. Merchant
3. Payment Request (Order)
4. Payment (coins,order)
5. Deposit coins
6. Accepted
7. Receipt
8.Send goods
9.Goods/Acknowledgement