Disclosed herein is a method wherein a sender device initiates a transaction by requesting Virtual coins (Vcoins) in exchange for actual money through a remote pay application. A portion of this money is reserved for offline transactions. The sender device receives the Vcoins, which are essentially encrypted representations of the money, from a central server. These Vcoins are securely stored on the sender device before being transferred to the receiver device via locally established networks like NFC, Bluetooth, or Wi-Fi, facilitated by the remote pay application. The receiver device receives and securely stores the Vcoins. Both the sender and receiver save each other's device details for authentication purposes. The Vcoin records are updated, and when the sender device and the receiver device regain mobile network connectivity, the Vcoin transactions are synchronized with the central server. This method allows for secure and network-independent transactions using Vcoins.

Creative Commons License

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