Present disclosure provides a system and method for providing a platform to perform digital transaction in offline mode using virtual coins. The system may include network server (107) which is configured to generate virtual coins when the customer (102) requests for generating virtual coins. Each virtual coin includes unique virtual identification number and Universally Unique Identifier (UUID that ensures each coin cannot be spent more than once, preventing double spending problem. Thus, secured cashless transaction is performed in offline mode using the generated virtual coins. Further, network server (107) is configured to process payment transaction claim request received from the merchant (102) via merchant device (104) through the communication network (106). The present disclosure provides the platform which allows participants or group of people of the same ecosystem to perform offline payment transactions using the virtual coins. Thereby, boosting private economy associated with the particular ecosystem.

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 License.