The internet has really grown so big now, it’s hard to imagine there were times when it didn’t even exist.
Today, buyers and sellers can stay in their homes and easily conduct a transaction over the internet, and their order will be processed instantly and delivered within minutes depending on location.
But, during the early days, when the internet was first introduced to the world, it turned out that Stanford students were in fact up to something, a transaction that will be later verified as the first ever transaction done accross the internet.
According to researchers, marijuana is in fact the very first thing to be sold over the internet. This stems majorly from an excerpt in the book “What the Dormouse Said: How the Sixties Counterculture Shaped the Personal Computer Industry”.
Here is the Excerpt:
“In 1971 or 1972, Stanford students using Arpanet accounts at Stanford University’s Artificial Intelligence Laboratory engaged in a commercial transaction with their counterparts at Massachussetts Institute of Technology. Before Amazon, before eBay, the seminal act of e-commerce was a drug deal. The students used the network to quietly arrange the sale of an undetermined amount of marijuana.”
Though the whole deal was done using the system, it’s obvious the actual giving of money occured face to face.
However, according to an issue from Smithsonian Magazine, the first time someone actually entered their bank cards into a computer system to conduct an e-commerce was in 1994. According to the magazine, the first credit card transaction that took place over the internet occured when someone bought a “Sting CD” named “Ten Summoner’s Tales” by entering his card details online.