Peer-to-peer systems are highly distributed and self-organizing communication networks.They get on without a central server as much as possible. This paper proposesto organize the trading of securities - like it is being done up until now at the stock exchange- on a peer-to-peer basis. In this...

Due to the widespread appearance of filesharing systemslike Napster, the peer-to-peer concept has recentlybecome well known. So far, these file-sharing systemshave been used for the exchange of digital goods. Werecommend a concept, based on that of the file-sharingsystem, for a decentralized...