Internet-based instant messaging hybrid peer-to-peer distributed electronic commerce system and method

A method for engaging in electronic commerce via the Internet, comprising the following steps:

• installing one or more user-side software applications providing a graphical user interface for system users to interact with the system and other system users and peer-to-peer instant messaging functionality on a user computer system communicating via the Internet;
• establishing a user account with a hybrid peer-to-peer distributed electronic commerce system comprising a mass storage device which includes one or more searchable relational databases containing user, goods/services and transaction data, an Internet communications server, a transaction server for processing system user e-commerce transactions and a main processing unit including one or more system-end software applications for administration of system functions;
• searching said system databases for goods/services advertised on said system;
• selecting goods/services for purchase;
• contacting the seller of said goods/services via said user-end peer-to-peer instant messaging software application to negotiate the terms of purchase for said goods/services;
• processing said purchase via said system's transaction server to transmit payment for said goods/services from the purchaser to the seller, update said system's goods/services inventory data and arrange for delivery of said purchased goods/services to the buyer.