A Quantum Vault Scheme for Digital Currency

Abstract: A digital currency is money in a digital form. In this model, maintaining integrity of the supply is a core concern, therefore protections against double-spending are often at the heart of a secure digital money scheme. Quantum money exploits the quantum mechanical principle of no-cloning to enable a currency that is immune to double spending. One of the challenges of the scheme is that users require technology that is currently out of reach. Here, we propose a model for quantum currency, which alleviates the need for quantum wallets by delegating quantum storage and processing to an intermediary that we call a "quantum vault". We develop the basic building blocks of this quantum-enabled digital currency and discuss its benefits and challenges.