The main goal of the proposed project is to facilitate transactions over the internet. The concept of e-cash was conceived by David Chaum in 1983. Chaum published the idea of anonymous electronic money in a 1983 paper; e-Cash software on the user's local computer stored money in a digital format, cryptographically signed by a bank. The user could spend the digital money at any shop accepting e-Cash, without having to open an account with the vendor first, or transmitting credit card numbers. Security was ensured by public key digital signature schemes.