METHOD OF PROVIDING CASH AND CASH EQUIVALENT FOR ELECTRONIC TRANSACTIONS

摘要

A system for peer-to-peer commerce includes electronic wallets (14) for storing electronic token files (12). The electronic tokens can be passed from wallet to wallet without oversight of a third party. At any time, the owner of a token can verify the validity of a token for a fee, but such verification is not needed to conduct commerce. The electronic tokens include a field which can be used to restrict tokens to a specific purpose or to prevent use on specific goods and services.