Fair Exchange: Theory and Practice of Digital Belongings
by: Carlos Molina-Jimenez (Author),Dann Toliver(Author),Hazem Danny Nakib(Author),Jon Crowcroft(Author)&1more
Publisher:World Scientific Europe Ltd
Publication Date: 21 Mar. 2024
Language:English
Print Length:292 pages
ISBN-10:1800615167
ISBN-13:9781800615168
Book Description
As more of our lives are spent interacting digitally ― sending and receiving payments, interacting on social media, using certified delivery, playing games online, and generally participating in the digital world ― the fair exchange of our digital belongings becomes increasingly essential.This book delves into the theory of fair exchange, from the historic to the cutting-edge, and presents a unified framework for understanding fair exchange protocols. Every exchange starts with a handshake, which is followed by four additional operations: deposit; verification; synchronization; and release or restoration. The environments in which these operations take place determine the properties of the resulting protocol, and the characteristics of the items that can be exchanged.Existing protocols are examined through this framework, including escrow-based protocols, optimistic protocols, and gradual release protocols. A new family of fair exchange protocols is developed which make use of attestables, a novel interface for exfiltration-resistant computing. An attestable-based protocol called FEWD is also introduced and several variations are described which are suitable for the exchange of different classes of items.Finally, a number of special topics for fair exchange are introduced, including legal issues that can emerge in practical applications of fair exchange, a legal analysis of the basic operations of fair exchange, commercial applications of FEWD, and an analysis of additional risks including participant expectations and implementations of attestable-based protocols. We conclude with a collection of topics for future research in making fair exchange more ubiquitous in our lives for a fairer digital world.
About the Author
About the Author Dr Carlos Molina-Jimenez has been associated with the Department of Computer Science and Technology of University of Cambridge, as Senior Researcher since 2014. He is a member of the Systems and Networking group and a cofounder of the Centre for Redecentralisation. He gained a PhD degree in Computing Science from Newcastle University. His broad research interests are in the areas of computer networking, fault tolerant distributed computing and decentralised computing. He has been involved in several research projects, covering a variety of topics including anonymization, compliance with service contracts, contract-regulated business applications, formal validation of business processes, fault tolerance, security and decentralised technologies. He is the coauthor of several journal, conference and workshop papers, and has delivered presentations and invited lectures at industry and universities.Dann Toliver is a cofounder of the Centre for Redecentralisation and a visiting researcher at the Department of Computer Science and Technology, University of Cambridge, researching fair exchange, secure distributed systems, and computational governance. Dann cofounded the TODA Project, a research initiative for efficient decentralized system design. He leads work on TODA files at TRIE, and helps found and operate companies commercializing the technology. Dann has organized some of the largest software developer communities in North America, as well as some of the smallest, and has run hundreds of events for developers to create strange and occasionally useful things.Hazem Danny Nakib is a financial and digital technology expert, having worked in different roles at the Royal Bank of Canada and in secondment at the Boston Consulting Group. Hazem is an honorary researcher at the University College London, Fellow of the Royal Society of Arts, Associate at the London School of Economics Systemic Risk Centre, and visiting researcher at the Department of Computer Science and Technology, University of Cambridge. He is cofounder of the Centre for Redecentralisation, and also sits on the Digital Strategic Advisory Board of the British Standards Institution. Hazem holds a BBA Management Specialist from the University of Toronto, BA in law from the University of Cambridge, and BCL from the University of Oxford, as well as an MA (ad eundem) from the University of Oxford.Dr Jon Crowcroft FRS FREng is the Marconi Professor of Communications Systems in the Department of Computer Science and Technology, University of Cambridge, and the chair of the programme committee at the Alan Turing Institute. Jon graduated with a Bachelor of Arts degree in Physics from the University of Cambridge, before gaining both a Master of Science degree in computing and PhD from University College London. Jon is also a cofounder of the Centre for Redecentralisation. He has done research in theoretical network science, particularly in the area of Turing switches, and is distinguished for his many seminal contributions to the development of the Internet. His work on satellite link interconnection techniques in the 1980s paved the way for rural broadband; his work on standards for video and voice on IP networks helped extend the Internet to multimedia; and in the 2000s he founded the field of opportunistic networking. He has written, edited and co-authored several books and publications which have been adopted internationally in academic courses. He is a Fellow of the Royal Society, the ACM, the British Computer Society, the IET the Royal Academy of Engineering and the IEEE.
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