Encryption and Cryptography

Encryption and Cryptography

First virtual eschews encryption and digital signatures. Some of the reasons include the following:

· Encryption and digital signatures are considered cumbersome and difficult, and add extra steps to the process.

· Cryptographic methods such as encryption and digital signatures are complicated, and if not used correctly they can yield a false sense of security.


· Cryptographic methods are subject to patents and export controls, and may also require certification authorities to be used correctly, which increases their cost and limits their distribution,

· Keeping payment information offline reduces the need to encrypt and sign transactions.