Quantum money from hidden subspaces

Forty years ago, Wiesner pointed out that quantum mechanics raises the striking possibility of money that cannot be counterfeited according to the laws of physics. We propose the first quantum money scheme that is (1) public-key---meaning that anyone can verify a banknote as genuine, not only the bank that printed it, and (2) cryptographically secure, under a "classical" hardness assumption that has nothing to do with quantum money. Our scheme is based on hidden subspaces, encoded as the zero-sets of random multivariate polynomials. A main technical advance is to show that the "black-box" version of our scheme, where the polynomials are replaced by classical oracles, is unconditionally secure. Previously, such a result had only been known relative to a quantum oracle (and even there, the proof was never published).