INTERNET CURRENCY AND A SYSTEM AND METHOD FOR ONLINE INTERNET CURRENCY TRANSACTIONS

摘要

The various embodiments herein provide a system and a method for online internet currency transactions. The system and method includes a Central Internet Bank (CIB) created at World Wide Web (WWW) level. A network is provided in electronic communication with the CIB. A plurality of account holding entities are registered with the CIB. A plurality of online service providers is associated with each account holding entity. An Internet Credit Rating Agency (ICRA) is associated with the account holding entities. The CIB issues and holds Binary Credit Bits (BCB) of the account holding entities and authenticates online transactions between at least two account holding entities in real time and authenticates online transactions between at least one account holding entity and at least one online service provider in real time.

主权项

1. A system for online internet currency transactions, the system comprising:
a Central Internet Bank (CIB) portal at World Wide Web (WWW) level; a network in electronic communication with the CIB; a plurality of account holding entities registered with the CIB; a plurality of online service providers associated with each account holding entity in the plurality of the account holding entities; and an Internet Credit Rating Agency (ICRA) associated with the plurality of the account holding entities; Wherein the CIB issues Binary Credit Bits (BCB) to the plurality of account holding entities for making a payment for a data transaction executed between two of the plurality of account holding entities or between one of the plurality of the account holding entities and a service provider and wherein the CIB repurchases the BCB issued to anyone of the plurality of the account holding entities and wherein the CIB holds Binary Credit Bits (BCB) of the plurality of the account holding entities to authenticate online transactions between at least two of the plurality of the account holding entities in real time and to authenticate online transactions between at least one of the plurality of the account holding entities and at least one of the online service provider in real time.