Yes but you still need to trust the central authority then, meaning one person will know everyone's salary (he who generates all the tokens). If you really wan

Yes but you still need to trust the central authority then, meaning one person will know everyone's salary (he who generates all the tokens). If you really want a cryptographic secure process, the key word to begin your journey would be "secure multiparty computation", and a very appropriate example in the book modern cryptography[1]: [1] https://cs.stanford.edu/people/eroberts/courses/soco/projects/2004-05/cryptography/smc.html https://cs.stanford.edu/people/eroberts/courses/soco/project... Basically your first solution but encrypt the communication between parties to prevent the n+1 - n attack. edit - Only say infinite8s reply now, which is almost verbatim my reply including the same link.