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.