Digital tokens: A scheme for enabling trust between customers and electronic marketplaces

Abstract

In electronic marketplaces, when the supply of a particular product is limited, and when there is a huge demand for the same, the questions of transparency and integrity prop up. We propose Digital Tokens—defined using proven cryptographic techniques—as a mechanism to assure trust for customers, and issued by a reliable, transparent and third-party intermediary, called digital token service provider (DTSP). The digital tokens are issued to a customer on behalf of a vendor and could be authenticated by both Vendor and the DTSP. This paper details the architecture involving the DTSP, protocols for communication, implementation details, the potential uses and benefits of the system and performance evaluation of such a system.