A non-transitory computer-readable medium that stores instructions executable by one or more processors to perform a method for online internet currency transactions, the method comprising steps of:
- creating a Central Internet Bank (CIB) portal with a server device at World Wide Web (WWW) level;
- connecting a plurality of account holding entities to the CIB portal through a network and a computing device, and wherein the computing device is selected from a group consisting of a personal computing device, laptop computer, mobile communication device, scanner device, copier device, a camera device, and a video camera device;
- registering a plurality of account holding entities to the CIB using a user interface and the computing device,
- creating a CIB account for each of the plurality of account holding entities by the server device;
- providing a Unique Human Interface Identity (UHII) number to each of plurality of account holding entities by the CIB server device;
- issuing Binary Credit Bits (BCB) to each of the plurality of the account holding entities by the server device on receiving a payment from the plurality of the account holding entities;
- holding the BCB associated with each of the plurality of the account holding entities in the CIB at a repository or a storage data base;
- creating a capital market by the CIB with an authority to issue the BCB to each of the plurality of the account holding entities using the server device;
- awarding each of the plurality of the account holding entities with loyalty programs to be used within a specified duration of time for using plurality of e-communities by the server device;
- recording vital information received from the plurality of the account holding entities and creating an interface by the CIB for saving the recorded vital information by the server device directly into the UHII account number associated with each of the plurality of the account holding entities, and wherein the BCB issued to the plurality of the account holding entities is used to make payment for a data transaction executed between two of the plurality of account holding entities or between one of the plurality of the account holding entities and one online service provider;
- authenticating the BCB by the CIB during online transactions between at least two of the plurality of the account holding entities in real time using the server;
- authenticating the BCBs by the CIB during online transactions between at least one of the plurality of the account holding entities and one online service providers in real time using the server, and wherein the BCB is one of a currency and a promissory note associated with each of the account holding entities for providing online transactions between at least two of the plurality of the account holding entities in real time and between at least one of the plurality of the account holding entities and one online service providers in real time;
- charging plurality of the e-communities by the CIB in terms of BCB units based on data packets downloaded in respective regions through a plurality of broadband services using the server;
- and
- charging data tax by owner of a website in one country to one of the plurality of the account holding entities in another country based on number of recipients of the plurality of the account holding entities and size of data transacted by the plurality of the account holding entities using a computing device.