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Our architecture combines existing work in payment systems and digital currency with a new approach to digital asset design for managing unforgeable, stateful, and oblivious assets without relying on either a central authority or a monolithic consensus system. Regulated financial institutions have a role in every transaction, and the consumer affordances are achieved through the use of non-custodial wallets that unlink the sender from the recipient in the transaction channel. This approach is fully compatible with the existing two-tiered banking system and can complement and extend the roles of existing money services businesses and asset custodians.<\/jats:p>","DOI":"10.1007\/978-3-031-32415-4_38","type":"book-chapter","created":{"date-parts":[[2023,7,21]],"date-time":"2023-07-21T20:25:45Z","timestamp":1689971145000},"page":"645-678","update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":8,"title":["A Scalable Architecture for\u00a0Electronic Payments"],"prefix":"10.1007","author":[{"given":"Geoff","family":"Goodell","sequence":"first","affiliation":[]},{"given":"D. R.","family":"Toliver","sequence":"additional","affiliation":[]},{"given":"Hazem Danny","family":"Nakib","sequence":"additional","affiliation":[]}],"member":"297","published-online":{"date-parts":[[2023,7,22]]},"reference":[{"key":"38_CR1","unstructured":"Shaw, J.: The watchers. 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