Patent ID: 8051011

Claim:
A system for effecting transactions over a network, comprising at least one isolation server and a first communication device, associated with a first user, connected over the network for communication purposes; a second communication device, associated with a second user, connected over the network for communication purposes; the first communication device and the second communication device are isolatedly connected to one another through said isolation server for the purpose of indirectly exchanging electronic money from the first user to the second user, wherein the first user is provided with money-representing data packets in a first active data packet area located in a first storage area associated with said first user, wherein the money-representing data packets are issued by a Currency Issuing Authority (CIA), a Currency Issuing Authority trusted server (CIAS) programmed to receive an instruction from the first user to pay the second user a first monetary sum and in response to the instruction the CIAS is programmed to (i) delete one or more money-representing data packets in the first active data packets area or (ii) mark one or more money-representing data packets in the first active data packets area as spent; and a data packets database (DPD) associated with the first user comprising money-representing data packets; said CIAS collectively comprising: a) access to the first user's DPD containing money-representing data packets; and b) software to generate new money-representing data packets and deliver to the second user the new money-representing data packets having a monetary value equal to or less than the first monetary sum.