Franchised Quantum Money

Abstract: The construction of public key quantum money based on standard cryptographic assumptions is a longstanding open question. Here we introduce franchised quantum money, an alternative form of quantum money that is easier to construct. Franchised quantum money retains the features of a useful quantum money scheme, namely unforgeability and local verification: anyone can verify banknotes without communicating with the bank. In franchised quantum money, every user gets a unique secret verification key, and the scheme is secure against counterfeiting and sabotage, a new security notion that appears in the franchised model. Finally, we construct franchised quantum money and prove security assuming one-way functions.