ThankstogeneralchairStuartHaberfordoingmanythingsthatnoneofthe attendeesnoticedbecausehedidthemsonicely. HewasablyassistedbyHinde tenBerge. ThankstoHarrisMcCoyforhandlinglocalarrangementsandJason CronkformaintainingtheWebsite. ThankstotheIFCAdirectorsforkeeping FCthriving,toAdamShostackforvenuearrangements,andtoBarbFox,the sponsorshipchair. Thankstoour?nancialsponsors,whoarelistedonthenext page. SpecialthankstoRayHirschfeldwhoseadvicetomeandtotheothersm- tionedherehasbeeninvaluable. Thanks?nallytoattendeeswithoutwhomthere wouldbenoconference. March2001 PaulSyverson VI Preface ProgramCommittee MattBlaze,AT&TLabs-Research YairFrankel,Ecash MattFranklin,UCDavis DavidKravitz,WaveSystemsCorp. ArjenLenstra,Citicorp PhilipMacKenzie,LucentBellLabs AviRubin,AT&TLabs-Research JacquesStern,EcoleNormaleSup´erieure KazueSako,NEC StuartStubblebine,CertCo PaulSyverson(Chair),NavalResearchLab WinTreese,OpenMarket,Inc. DougTygar,UCBerkeley MichaelWaidner,IBMZurichResearchLab MotiYung,CertCo GeneralChair StuartHaber,Intertrust SponsorshipChair BarbFox,Microsoft FinancialCryptography2001wasorganizedbytheInternationalFinancialCr- tographyAssociation(IFCA),andwassponsoredbyBibitInternetPayments, CertCo,Certicom,HushCommunications,IBM,InterTrustSTARLab,- crosoft,nCipher,RSASecurity,andZero-KnowledgeSystems. TableofContents ManagingPaymentTransactionCosts AmortizedE-Cash. 1 MosesLiskov,SilvioMicali O?ineMicropaymentswithoutTrustedHardware. 21 MattBlaze,JohnIoannidis,AngelosD. Keromytis Panel(I) ThePracticalProblemsofImplementingMicroMint. 41 NickovanSomeren ProtectingDigitalRights. 51 YairFrankel AspectsofDigitalRightsManagementandtheUseofHardwareSecurity Devices. 54 DavidW. Kravitz ASolutiontotheNapsterPhenomenon:WhyValueCannotBeCreated AbsenttheTransferofSubjectiveData. 59 ScottMoskowitz GoldenTimesforDigitalRightsManagement?. 64 TomasSander ApplicabilityofPublicKeyCryptosystemstoDigitalRightsManagement Applications. 75 JeremyWyant TrustandRiskManagement OntheGlobalContentPMI:ImprovedCopy-ProtectedInternetContent Distribution. 79 TadayoshiKohno,MarkMcGovern Trust:ACollisionofParadigms. 91 L. JeanCamp,HelenNissenbaum,CathleenMcGrath GroupsandAnonymity OntheSecurityofHomageGroupAuthenticationProtocol. 106 ´ ElianeJaulmes,GuillaumePoupard VIII Table of Contents Anonymitywithout'Cryptography'. 117 DahliaMalkhiandElanPavlov FairTracingwithoutTrustees. 136 DennisKu¨gler,HolgerVogt InvitedTalk WhytheWaronMoneyLaunderingShouldBeAborted. 149 RichardW. Rahn Certi?catesandAuthentication ProvablySecureImplicitCerti?cateSchemes. 156 DanielR. L. Brown,RobertGallant,ScottA. Vanstone Nonmonotonicity,UserInterfaces,andRiskAssessmentinCerti?cate Revocation. 166 NinghuiLi,JoanFeigenbaum MutualAuthenticationforLow-PowerMobileDevices. 178 MarkusJakobsson,DavidPointcheval CreditCardSecurity O?-LineGenerationofLimited-UseCr