Realization of the WAT Core in i-WAT

2. Circulation

Suppose, then, Bob asked Cameron to give him her copy of a book. Bob can use the existing i-WAT ticket in the following way.

1. Bob sends Cameron a use message.
2. Cameron sends both Bob and Alice an accept message.
3. Alice sends both Cameron and Bob an approve message.

As the result of this, the i-WAT ticket drawn by Alice is now handed from Bob to Cameron.

• Bob and Cameron need to have each other's trusted public keys.
• Alice and Cameron, too, need to have each other's trusted public keys.

3. Redemption