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Q: What company was the first virtual bookstore on the Internet?
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first product offering from First Virtual was an Internet payment system, which was developed quietly and publicly announced as a fully operational open Internet service on October 15, 1994.First Virtual provided most of the features of both eBayand PayPal before those companies existed.The First Virtual approach is to create an automatic authorization system that requires no previous relationship between buyer and seller. In the era of electronic commerce, the new system may herald a shift comparable to the transition a generation ago, when the members-only department store credit card gave way to use-anywhere cards like Visa and Mastercard.First Virtual's system differed in many ways from all other proposed approaches to Internet commerce, most notably in the fact that it did not rely on encryption or any other form of cryptography to ensure the safety of its commercial transactions. Instead, safety was ensured by enforcing a dichotomy between non-sensitive information (which may travel over the Internet) and sensitive information (which never does), and by a buyer feedback mechanism.First Virtual's protocols were built atop existing IETF protocols, and subject to public discussions. The backbone of the system was designed around Internet email and the MIME (Multipurpose Internet Mail Extensions) standard. First Virtual used regular email to communicate with a buyer to confirm charges against their account. Sellers could use either email, Telnet or automated programs that made use of First Virtual's Simple MIME Exchange Protocol (SMXP) to verify accounts and initiate payment transactions.


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How did the Coles bookstore in Canada first get started?

The Canadian bookstore Coles was first established in the year 1940 near the University of Toronto. Coles was established by the brothers Carl and Jack Cole.


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