Source: http://szabo.best.vwh.net/bearer_contracts.html


With ideal two-way anonymous communications between use-once keys, and completely accountless clearing, unlinkability via blind signatures becomes redundant. This ideal case has yet to be even closely approached with implemented technology, and necessarily involves long communications delays which are often intolerable. Real imperfect communications mixes and less expensive blinded tokens complement each other.

completely accountless clearing

I can't understand what does it mean "acountless clearing" is it just mean "without account", what does it mean "clearing" at the end?

  • 1
    It means clearing digital transactions without having to tie them to a named and enduring account. Once a transaction is cleared it leaves no trace of the parties involved, exactly as when you make purchases in cash. Jan 25, 2014 at 17:09
  • Could you say in another way this expression? Am I right: "communications with completely untraceble inputs" Jan 25, 2014 at 17:22
  • That's the effect, but as mentioned at the end of the sentence, there are other means of accomplishing "untraceable inputs", so you're not saying the same thing. Jan 25, 2014 at 17:30

1 Answer 1


You are correct, "completely accountless clearing" means clearing without an account. In this context, "clearing" means retiring an obligation or promise by satisfying it. So if you promise to pay me $10, "clearing" that promise means that the promise is no longer outstanding because you somehow satisfied it.

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