Offline Coin Protocol

Abstract: Systems, methods, apparatus, computer program code and means are provided to operate a first device to receive a coin having value from a second device while offline. In some embodiments, a method is provided that includes receiving, over a local communication channel, information to confirm the validity of the second device, receiving, over the local communication channel, a coin transfer message from the second device, the coin transfer message including coin information, receiving, over a channel other than the local communication channel, a passcode from a user of the second device, verifying information in the coin transfer message using the passcode, and generating a hash of the coin information using a PIN associated with the first device.

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